Published on: March 27, 2026, 04:47h.

Updated on: March 27, 2026, 04:47h.

• Alberta casino penalized for supposed breaches of anti-money laundering regulations
• $91,162 fine issued to Northern Isga Foundation, operator of Eagle River Casino
• Mandatory verification of identities for patrons conducting substantial cryptocurrency transactions

The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), which oversees financial intelligence and anti-money laundering (AML) as well as anti-terrorist financing, has imposed an administrative monetary penalty on an Alberta casino due to allegations of violating AML regulations.

Allegations of Non-Compliance with AML Regulations

The facility at the center of this issue is Eagle River Casino and Travel Plaza. The Northern Isga Foundation, a charitable non-profit organization authorized by the Chief and Council of the Alexis Nakota Sioux Nation, has been assessed this penalty.

Following a compliance audit, the Northern Isga Foundation was issued an administrative monetary penalty amounting to $91,162.50 on March 2 for breaching Part 1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Usage of Cryptocurrency

FINTRAC discovered that the Northern Isga Foundation did not adequately develop and maintain updated compliance policies and procedures. It also failed to identify and document risks, took no action to train employees and agents on AML compliance, and did not create a plan to review its compliance program for effectiveness, with documentation required every two years.

Additionally, there were gaps concerning the verification of identities for patrons involved in sizable virtual currency transactions.

“Canada’s Anti-Money Laundering and Anti-Terrorist Financing framework is established to safeguard Canadians and ensure the integrity of Canada’s economy,” stated Sarah Paquet, Director and CEO of FINTRAC.

$91,600 Penalty

“FINTRAC collaborates with businesses to help them understand and meet their obligations under the Act, but we remain firm in ensuring compliance, taking necessary actions when warranted.”

Moreover, FINTRAC partners with law enforcement and national security agencies to assist in investigations related to money laundering, financing of terrorist activities, and other security threats. In the 2024-25 fiscal year, FINTRAC issued 23 Notices of Violation due to non-compliance, marking the highest number in the Centre’s history and totaling over $25 million.

The casino is located in Glenevis, Alberta.

Casino.org reached out to the Alexis Nakota Sioux Nation for feedback but has not yet received a response.