money laundering compliance solutions

Canada's anti-money laundering legislation directly impacts on over one million businesses and professionals.

ABCsolutions was established to assist Canadian individuals and organizations to meet the challenge of developing and maintaining an effective anti-money laundering compliance program as mandated under Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Latest News

February 16 - America’s largest banks are to propose a complete overhaul of how financial institutions investigate and report potential criminal activity, arguing that rules imposed in the years after the Sept. 11, 2001 attacks and strengthened during the Obama administration are onerous and ineffective, sources said. The Clearing House, a trade association representing the largest U.S. banks including Goldman Sachs, JPMorgan Chase & Co and Bank of America, has long raised concerns about the effectiveness of the current rules, but this will be the first time the group has publicly called for them to be revamped.
February 16 - Bitcoin's spiking prices have been driven almost entirely by Chinese money-launderers trying to beat the country's currency controls -- controls that have tightened so much that it's tanking the world's real-estate markets as offshore buyers abandon their deposits and disappear. Now, China's top three Bitcoin exchanges have frozen all withdrawals for 30 days.
February 16 - Wagering giant Tabcorp will pay $45 million to settle a money laundering case with the government's financial intelligence agency AUSTRAC. As part of the settlement agreement, Tabcorp will make a number of admissions that it did not comply with anti-money laundering and counter terrorism financing laws.
February 15 - The papers revealed details of hundreds of thousands of foreign trusts around the world, and New Zealand was mentioned numerous times. More than 11,000 have been set up in New Zealand.
February 14 - Hong Kong is beefing up its anti-money laundering and corporate disclosure laws in a move that some financial crime specialists say could lead to the exodus of billions of dollars in assets from the territory as people seek to avoid increased scrutiny. The Chinese territory’s government has been rattled by last year’s Panama Papers scandal, which showed that Hong Kong was the most active centre in the world for the creation of shell companies.