FINTRAC imposes an administrative monetary penalty on Northern Isga Foundation

FINTRAC imposed an administrative monetary penalty of CAD 91,162.50 on Northern Isga Foundation, a non-profit charitable organization serving as the Host First Nation charitable organization for the Eagle River Casino and Travel Plaza, following a compliance examination that found multiple violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations. Violations included failures to maintain up-to-date written compliance policies approved by a senior officer, assess and document risk, provide ongoing compliance training, and institute biennial compliance-program effectiveness reviews.