The Department of Commerce and Consumer Affairs Division of Financial Institutions ("DFI") issued a cease-and-desist order to Sigue Corporation on March 15, 2024. According to the news release, Sigue Corp. is a licensed money transmitter operating in Hawai'i since June 18, 2009.
Upon reviewing the situation, the DFI found that the Company does not meet the statutory provisions related to financial condition. The Order mandates that Sigue Corporation must cease engaging in the business of money transmission in Hawai'i.
As stated in the news release, in 2023, Sigue Corporation conducted over 16,000 money transmission transactions in Hawai'i, amounting to more than $9 million.
Consumers experiencing issues with the services provided by Sigue Corporation are advised to contact DFI immediately. Affected individuals can reach out by phone at 808-586-2820 or via email at [email protected] Alternatively, they can visit DFI in person at 335 Merchant Street, Room 221, Honolulu, HI, 96813.
Affected consumers are urged to take prompt action in light of the cease-and-desist order issued to Sigue Corporation by the Department of Commerce and Consumer Affairs Division of Financial Institutions.
A copy of the Order can be accessed by following the link provided in the news release.