SIGA To Appeal $1.175 Million FINTRAC Fine
Posted on: September 14, 2025, 04:05h.
Last updated on: September 14, 2025, 04:05h.
- SIGA fined $1.175 million for alleged anti-money laundering administration violations
- SIGA operates 7 casinos in Saskatchewan
- SIGA announces its intention to appeal the decision
The Saskatchewan Indian Gaming Authority (SIGA) says it will be appealing a fine of $1.175 million imposed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
Failure to Submit Suspicious Transaction Reports
FINTRAC announced it was fining the Saskatchewan casino operator for not following administrative regulations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA). SIGA allegedly violated administrative regulations meant to prevent money laundering.
FINTRAC says violations include failing to submit suspicious transaction reports where there were reasonable grounds to suspect that transactions were related to a money laundering or terrorist activity financing offence. Other violations include failure to report suspicious transactions with the prescribed information. Also, failure to develop and apply written compliance policies and procedures that are kept up to date, and, in the case of an entity, are approved by a senior officer.
Compliance Program Routinely Audited by FINTRAC
PCMLTFA is the legislation that provides the legal framework for anti-money laundering and counter-terrorist financing in Canada.
“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. “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. We will take appropriate actions when they are needed.”
Launching Appeal
In a statement sent to Casino.org today, SIGA indicated it will be appealing.
“It should be noted that the penalty is based on administrative reporting requirements only. There is no money laundering, terrorist financing, or other financial crimes at SIGA’s properties. SIGA does not agree with the violations found by FINTRAC, nor does it agree with the administrative penalties assessed. SIGA will be appealing both the findings of violations and the penalties assessed to the Federal Court.”
In the SIGA statement, the organization pointed out that it has a compliance program which is “routinely” audited by FINTRAC.
BCLC Fined By FINTRAC in August
“SIGA works with numerous regulatory bodies in the conduct of our business, and we place a high priority on supporting and maintaining compliance with regulatory standards.”
In August the British Columbia Lottery Corporation also announced it was appealing to the Federal Court a decision by FINTRAC that it was fining BCLC more than $1 million for anti-money laundering legislation violations.
The lottery corporation was penalized for three alleged violations of the Proceeds of Crime (money laundering) and Terrorist Financing Act.
SIGA, which launched in 1996, operates seven casinos in the province – slot machines, live table games, electronic table games, live entertainment, an array of lounges and restaurants. It also operates the online gaming website PlayNow.com – the only legally operated online gaming and sports betting site in Saskatchewan.
No comments yet