Canada has imposed a significant fine of nearly CAD 1.2 million on a major casino operator for failing to comply with anti-money laundering (AML) regulations, marking part of a global intensification in financial crime enforcement. Concurrently, the Philippines is enhancing its anti-money laundering and counter-terrorism financing (CTF) measures specifically targeted at casino operations to meet global AML standards and remove itself from the Financial Action Task Force (FATF) grey list.
Canada’s $1.2 Million Casino Fine
Canada’s money laundering watchdog has fined the Saskatchewan Indian Gaming Authority (SIGA) nearly CAD 1.2 million due to non-compliance with Canada’s anti-money laundering laws. SIGA operates multiple casinos under the Saskatchewan Indian Gaming Authority. The fine was levied following findings that SIGA failed to adequately comply with regulatory requirements designed to prevent money laundering and terrorist financing activities.
The violations include failure to assess and document the risk of money laundering or terrorist financing offenses while considering prescribed factors, and failure to institute and document the required periodic reviews of these risks. This penalty is one of the heftiest administrative monetary penalties imposed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) in the gaming sector.
FINTRAC reinforces that Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime is crucial to protect the safety of Canadians and the economic security of the country. The agency states it supports businesses with compliance but will act firmly when necessary to deter money laundering risks within regulated industries such as gambling.
The Philippines Enhances AMLC Measures
Meanwhile, the Philippines’ Anti-Money Laundering Council (AMLC) has intensified its strategies to improve AML and CTF protocols specifically for casino junkets. This move responds directly to critical remarks by the FATF, a global financial crime watchdog, which has urged the country to rectify major shortcomings in its AML framework, especially concerning casinos.
The Philippines was placed on the FATF grey list due to concerns about deficiencies in its AML controls. FATF gave the country an extension until January 2024 to address these issues. In response, the AMLC has shown a steadfast commitment to strengthening the effectiveness of its regime by collaborating closely with FATF and regional bodies such as the Asia/Pacific Group on Money Laundering (APG).
High-level political commitment is evident from Executive Order No. 33 and Memorandum Circular No. 37 issued by President Ferdinand R. Marcos Jr., which set the strategic direction for these initiatives. The regulatory authority is working to ensure robust anti-money laundering and counter-terrorism financing systems in casinos to bring the Philippines in line with international standards and to avoid exclusion from the global financial system.
Global Context of Crackdown on Casinos
These developments in Canada and the Philippines reflect a broader global crackdown on the casino sector as a high-risk environment for money laundering and financial crime. Casinos are attractive for illicit actors due to large cash transactions and the potential for disguising the origin of illegal funds.
Countries worldwide have been enhancing their AML/CFT frameworks, with increasing scrutiny on compliance and enforcement. The focus is largely on ensuring casinos perform rigorous customer due diligence, monitor transactions effectively, assess risks comprehensively, and report suspicious activities promptly.
Impact and Future Outlook
The hefty fine in Canada serves as a warning to the gaming industry about the serious repercussions of lax AML compliance. It emphasizes the necessity for casino operators to have robust systems and governance to identify and mitigate money laundering risks.
In the Philippines, the ongoing regulatory reforms signify a determined effort to align with international AML expectations and to restore confidence among global financial partners. Strengthening these controls will not only help reduce the risk of illicit financial flows but also protect the integrity of the Philippine casino sector as the country continues to grow as a major gaming destination.
This dual focus on enforcement in Canada and regulatory improvement in the Philippines highlights how governments worldwide are prioritizing AML/CFT in casinos to secure financial systems, prevent crime, and sustain economic growth underpinned by trust and transparency.
AML Editor’s article was originally published in timesofcasino on September 15, 2025