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The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) announced on September 12 that the Saskatchewan Indian Gaming Authority (SIGA) is facing a fine of $1,175,000. This comes after SIGA was found to be non-compliant with anti-money laundering policies following an investigation.
FINTRAC found that SIGA had failed to act on suspicious transactions, failed to report those transactions, and failed to develop compliance procedures.
FINTRAC has imposed an administrative monetary penalty of $1,175,000 on the Saskatchewan Indian Gaming Authority (SIGA). For more information, consult: pic.twitter.com/z6RCUtYQUv
— FINTRAC_Canada (@FINTRAC_Canada) September 12, 2025
“Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is in place to protect the safety of Canadians and the security of Canada’s economy,” said Sarah Paquet, Director and Chief Executive Officer at FINTRAC.
“FINTRAC works with businesses to help them understand and comply with their obligations under the Act. We are also firm in ensuring that businesses continue to do their part and we will take appropriate actions when they are needed.”
The importance of FINTRAC compliance
SIGA operates seven casinos in the province of Saskatchewan. Casinos, financial entities, money services businesses, real estate brokers and various other business sectors in Canada are required under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act to keep certain records, identify clients, maintain a compliance regime, and report certain financial transactions to FINTRAC. In this case, it was found that SIGA had not adhered to these guidelines.
In the 2024/25 financial year, FINTRAC issued 23 Notices of Violation of non-compliance to businesses, the largest number in one year in the organization’s history. Those fines amounted to a total of more than $25 million.
SIGA announced that it intends to appeal the decision from FINTRAC, maintaining that they work with various regulatory bodies and maintain a high standard in its operations.
“SIGA does not agree with the violations found by FINTRAC, nor does it agree with the administrative penalties assessed,” the organization said. “SIGA will be appealing both the finding of violations and the penalties assessed to the Federal Court.”
Featured image: FINTRAC
The post FINTRAC fines Saskatchewan Indian Gaming Authority after compliance investigation appeared first on ReadWrite.
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