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The Financial Transaction Analysis and Reports Center (FIntrac) announced On September 12, the Saskatchewan Indigenous Game Authority (SIGA) faces a fine of $ 1,175,000. This occurs after it was discovered that Siga did not comply with the policies against money laundering after an investigation.
Fentrac discovered that Siga had not acted in suspicious transactions, did not report these transactions and failed to develop compliance procedures.
FINTRAC has imposed an administrative monetary fine of $ 1,175,000 to the Saskatchewan indigenous games authority (SIGA). For more information, see: https://t.co/zhaiuzy pic.twitter.com/z6rcutyquv
– FINTRAC_CANADA (@fintrac_Canada) September 12, 2025
“The anti-lavavajillas financing regime and Canada’s anti-terrorism is in place to protect the safety of Canadians and the safety of Canada’s economy,” said Sarah Paquet, director and executive director of FIntrac.
“Fintrac works with companies to help them understand and comply with their obligations under the law. We are also firm to ensure that companies continue to do their part and take appropriate measures when necessary.”
The importance of fontrac fulfillment
Follow seven casinos in the province of Saskatchewan. Casinos, financial entities, money services, real estate corridors and several other commercial sectors in Canada are required by virtue of the income of the crime (money laundering) and the terrorist financing law to maintain certain records, identify customers, maintain a regime of compliance and inform certain financial transactions to FIntrac. In this case, it was discovered that Siga had not adhered to these guidelines.
In financial year 2024/25, Fintrac issued 23 violation notices of the breach of companies, the greatest number in a year in the history of the organization. Those fines amounted to a total of more than $ 25 million.
Follow announced That he intends to appeal Fentrac’s decision, maintaining that they work with several regulatory bodies and maintain a high level in their operations.
“Siga does not agree with the violations found by FIntrac, nor does it agree with the administrative sanctions evaluated,” the organization said. “It will continue to appeal both the discovery of violations and the sanctions evaluated to the Federal Court.”
Outstanding image: Fintrac
The author authority fines for the Indigenous Games Authority of Saskatchewan after compliance research first appeared in Readwrite.
