FINTRAC Slaps Alberta Casino With Hefty Monetary Penalty
Posted on: March 27, 2026, 04:47h.
Last updated on: March 27, 2026, 04:47h.
- Alberta casino sanctioned for alleged violations of anti-money laundering rules
- $91,162 penalty imposed on Northern Isga Foundation, which runs Eagle River Casino
- Requirements for verifying the identity of patrons making large transactions in cryptocurrency
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), the country’s financial intelligence unit, anti-money laundering and anti-terrorist financing supervisor, has slapped an administrative monetary penalty on an Alberta casino operator for alleged non-compliance of anti-money laundering rules.
Alleged Non-Compliance with AML Rules
The casino in question is Eagle River Casino and Travel Plaza. Northern Isga Foundation, a non-profit charitable organization authorized by the Alexis Nakota Sioux Nation Chief and Council to serve as the Nation’s Host First Nation charitable organization for the property, was assessed the penalty.
Following a compliance investigation, Northern Isga Foundation was imposed an administrative monetary penalty of $91,162.50 on March 2 for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Virtual Currency
FINTRAC found that Northern Isga Foundation failed to develop and apply written regularly updated written compliance policies and procedures, failed to assess and document the risk, failed to act on the behalf of employees and agents to develop and maintain a written ongoing AML compliance training program, and failed to institute and document a plan for a review of its compliance program for the purpose of testing its effectiveness, with results of that documented every two years.
Included in that were missing provisions around verifying the identity of patrons who were making large transactions in virtual currency.
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, FINTRAC.
$91,600 Fine
“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.”
FINTRAC also works with law enforcement and national security agencies, assisting their investigations into money laundering, terrorist activity financing., and threats to the security of the country. In 2024-25, FINTRAC issued 23 Notices of Violation of non-compliance to businesses, the largest number in one year in the Centre’s history, for a total of more than $25 million.
The casino property is in Glenevis, Alberta.
Casino.org reached out to Alexis Nakota Sioux Nation for comment but we’ve yet to hear back.
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