RELEASE: Cease and Desist Ordered for Sigue Corporation

DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS
KA ʻOIHANA PILI KĀLEPA

DIVISION OF FINANCIAL INSTITUTIONS

JOSH GREEN, M.D.
GOVERNOR | KE KIAʻĀINA

NADINE Y. ANDO
DIRECTOR | KA LUNA HOʻOKELE

IRIS IKEDA
BANKING COMMISSIONER

FOR IMMEDIATE RELEASE
March 17, 2024

Cease and Desist Ordered for Sigue Corporation

HONOLULU – The Department of Commerce and Consumer Affairs Division of Financial Institutions (“DFI”) issued a cease-and-desist order (“Order”) to Sigue Corporation (“Sigue” or “Company”), on March 15, 2024. Sigue Corp. is a licensed money transmitter operating in Hawai‘i. Sigue had been licensed to engage in the business of money transmission in Hawai‘i since June 18, 2009.

On or about February 27, 2024, DFI was notified that the Company sought to surrender its license in the state. DFI conducted a review of the licensee’s surrender request and found sufficient cause to believe the Company does not meet the statutory provisions related to financial condition. The Order notifies the Company that it must stop engaging in the business of money transmission in Hawai‘i.

In 2023, the company conducted approximately 16,000 money transmission transactions in Hawai‘i, totaling more than $9 million. Consumers experiencing issues with services provided by Sigue Corporation through its online and mobile application or through its authorized delegate Saigon Services, Inc., or those with complaints should contact DFI immediately at 808-586-2820 or [email protected].

Affected consumers may also visit DFI in person at 335 Merchant Street, Room 221, Honolulu, HI, 96813.

A copy of the Order is available at this link.

# # #

Media Contact:
William Nhieu
Communications Officer
Department of Commerce and Consumer Affairs
[email protected]
Office: 808-586-7582