The Saskatchewan Indian Gaming Authority (SIGA) has been penalized with a significant fine of $1.175 million after a compliance examination by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The penalty was imposed on August 28, 2025, and pertains to SIGA’s failure to adhere to specific provisions of Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act.
Details of the Violations
SIGA, which operates seven casinos across Saskatchewan, was found to have committed several regulatory breaches. FINTRAC identified that SIGA had not submitted suspicious transaction reports (STRs) where there were reasonable grounds to suspect that the transactions were linked to money laundering or terrorist activity financing. Additionally, the casino authority failed to include the required details in some of its reports and neglected to maintain up-to-date compliance policies and procedures as required by the law.
The violations were categorized with varying levels of severity. The failure to submit the suspicious transaction reports was deemed a “very serious” breach, while the other two infractions—insufficient reporting details and inadequate compliance policies—were considered “serious.” Despite the gravity of the violations, SIGA has firmly denied the claims and stated that no instances of money laundering or terrorist financing have occurred at its properties.
In a public statement, SIGA expressed its disagreement with both the findingsand the imposed penalty. The authority insisted that the issue was limited to administrative reporting failures rather than any form of financial crime. SIGA further clarified that the monetary penalty relates solely to these reporting lapses and does not involve any criminal activities such as money laundering or terrorist financing. The gaming authority also announced its intention to appeal the decision, challenging both the findings of non-compliance and the financial penalty in federal court.
FINTRAC’s Role and Enforcement Actions
On the other hand, Sarah Paquet, the Director and Chief Executive Officer of FINTRAC, emphasized that the agency’s role is to protect the financial integrity of Canada and its economy. As reported by FINTRAC, she reassured that while FINTRAC collaborates with businesses to help them understand and comply with the regulations, it is also committed to enforcing the law by taking corrective actions when necessary. Paquet stated, “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.”
This is not the first time FINTRAC has imposed penalties for non-compliance. Since gaining the authority to do so in 2008, the agency has issued over 150 penalties across various business sectors. In 2024–25 alone, FINTRAC issued 23 Notices of Violation, totaling more than $25 million in penalties. These measures are part of an ongoing effort to ensure that businesses comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, which requires entities like casinos, financial institutions, and other sectors to report certain financial transactions, maintain a compliance regime, and conduct risk assessments.
While SIGA plans to pursue a legal challenge, the penalty serves as a stark reminder of the critical role that businesses must play in the fight against financial crimes. The case also highlights the ongoing scrutiny faced by casinos and other sectors involved in handling financial transactions, underscoring the importance of upholding the regulatory framework designed to prevent illicit activities.
In the wake of this penalty, SIGA reiterated its commitment to upholding rigorous compliance standards and conducting regular audits to ensure adherence to FINTRAC’s regulations. The outcome of SIGA’s appeal will be closely watched, as it could set a precedent for similar cases within the Canadian gaming industry.
