REGINA - Saskatchewan Indian Gaming Authority faces a steep fine imposed by the Financial Transactions and Reports Analysis Centre of Canada for a number of administrative violations.

FINTRAC announced on Friday it has imposed an administrative monetary penalty on SIGA of $1,175,000 for non-compliance with Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated regulations.

The penalty was imposed on Aug. 28. The violations, according to FINTRAC’s news release, are failure 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; failure to report suspicious transactions with the prescribed information; and failure to develop an

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