Regulatory Alerts2025-09-12
FINTRAC imposes an administrative monetary penalty on the Saskatchewan Indian Gaming Authority
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed a $1,175,000 administrative monetary penalty on the Saskatchewan Indian Gaming Authority (SIGA) for violating anti-money laundering regulations. Following a compliance examination, FINTRAC determined that SIGA failed to submit required suspicious transaction reports, omitted prescribed information in those reports, and neglected to develop and maintain updated written compliance policies approved by senior officers. The penalty targets SIGA, which operates seven casinos in Saskatchewan, and underscores FINTRAC's enforcement of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to ensure designated businesses maintain robust reporting and compliance regimes.