FINTRAC Fines Saskatchewan Indian Gaming Authority for AML Failures

Key Takeaways

• Penalty Imposed: FINTRAC fined the Saskatchewan Indian Gaming Authority $857,000 (CAD 1.175 million) for anti-money laundering compliance failures.
• Compliance Gaps: SIGA failed to file suspicious transaction reports, omitted prescribed information, and lacked updated, approved compliance policies.
• Casinos Under Scrutiny: The authority operates seven casinos in Saskatchewan, placing it under strict obligations of Canada’s AML/ATF regime.
• Regulator’s Stance: FINTRAC Director Sarah Paquet stressed the importance of businesses fulfilling their obligations and warned of enforcement where needed.
• Wider Enforcement Trend: In 2024–25, FINTRAC issued 23 Notices of Violation totaling more than $25 million, the largest number in a single year, reflecting heightened AML oversight.

Deep Dive

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) has imposed an administrative monetary penalty on the Saskatchewan Indian Gaming Authority (SIGA), citing multiple violations of Canada’s anti-money laundering and counter-terrorist financing laws.

According to FINTRAC’s announcement, SIGA was fined $857,000 (CAD 1,175,000) on August 28, 2025, following a compliance examination that uncovered serious shortcomings in its reporting and compliance practices. The authority, which operates seven casinos across Saskatchewan, was found to have committed several violations under Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations.

FINTRAC determined that SIGA failed to submit suspicious transaction reports in instances where reasonable grounds existed to suspect money laundering or terrorist financing activity. The authority also neglected to include the prescribed information in some suspicious transaction reports and failed to develop and maintain written compliance policies and procedures that were both up to date and approved by a senior officer.

“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. 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,” said Sarah Paquet, Director and CEO of FINTRAC.

Administrative monetary penalties under the Act are intended to correct non-compliant behavior rather than serve as punitive measures. FINTRAC reported that in 2024–25, it issued 23 Notices of Violation totaling more than $25 million, the highest number of such notices in a single year since it gained penalty authority in 2008. Over 150 penalties have been imposed across industries to date.

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