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

March 21 - B.C.’s civil forfeiture office is suing to seize more than $5.3 million in cash and assets from a Richmond man who was a key target of an RCMP investigation into the biggest money laundering case in B.C. history. Named in the suit filed in B.C. Supreme Court last week are Paul King Jin, his wife Xiaoqi Wei, and several others, including Jin’s niece, Yuanyuan Jia, who is alleged to own a condo on Jin’s behalf.
March 21 - It is not just Vancouver’s skyrocketing real-estate market that is being boosted by criminal cash and professional money launderers. A new report by Transparency International Canada has found Toronto’s much larger market faces massive floods of opaque cash, with $28.4 billion invested in Greater Toronto Area housing since 2008, through corporations.
March 20 - Government casino regulators linked millions of dollars in suspicious cash taken in by B.C. casinos to a targeted murder in Surrey, according to a report obtained by CTV News. Gunmen shot 29-year-old Birinder Khangura dead and sprayed the neighbourhood with bullets in September 2014 – a murder that has yet to be solved.
March 19 - The federal government is promising to create a multi-agency task force to combat money laundering and develop a centre of expertise on financial crime to help track dirty money. The 2019 federal budget also provides funding: $24-million over five years for the task force, $28.6-million over four years for the centre of excellence, and $16.9-million over five years for the Financial Reports and Analysis Centre of Canada, the agency responsible for detecting money laundering and terrorist financing.
March 18 - Federal authorities raided the office of Republican fundraiser Elliott Broidy last summer, seeking records related to his dealings with foreign officials and Trump administration associates, according to a sealed search warrant obtained by ProPublica. Agents were authorized to use the megadonor’s hands and face to unlock any phones that required fingerprint or facial scans.
March 18 - An Italian subsidiary of Dutch banking giant ING has been ordered to stop taking on new clients. In a statement released over the weekend, the Bank of Italy said that ING Groep NV had failed to meet compliance standards related to anti-money laundering (AML) procedures.
March 15 - Once considered the safest of them all, Nordic banks are now navigating a world dominated by allegations of laundering. Danske Bank A/S, Swedbank AB and Nordea Bank Abp, often via their Baltic operations, have all been tainted by claims that they handled vast amounts of money associated with crime. But the big risk now lies in the response, according to the head of the Financial Supervisory Authority in Finland, who oversees Nordea.