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

May 26 - A group of Hong Kong authorities, including the financial regulator HKMA, today announced a new taskforce to crack down on financial fraud in the country, saying that “Financial Crime undermines the integrity of our economy and the financial institutions central to it”. The Fraud and Money Laundering Intelligence Taskforce (FMLIT) will be made up of key representatives from government, law enforcement and the banking sector. The taskforce will create a new era of collaboration, resulting in shared intelligence, a unified response and greater awareness of the risk of fraud among consumers.
May 26 - The police custody of Rashtriya Janata Dal (RJD) supremo Lalu Yadav's daughter's chartered accountant Rajesh Agarwal has been extended by seven days in connection with a Rs. 8000 crore money laundering case. Earlier, Lalu's daughter Misa Bharti and her husband were summoned by the Income Tax Department in connection with a 'benami' assets case.
May 26 - Several local and international banks have been slapped with administrative fines by the South African Reserve Bank, for weak anti-money laundering and combating of financing terrorism controls. The banks include Investec, Absa, Standard Chartered, as well as Habib Overseas Bank.
May 25 - Fraser Valley real estate brokers have received a “very strongly worded” warning of a money laundering strategy their offshore investor clients may attempt. The Fraser Valley Real Estate Board (FVREB) – which covers North Delta, Surrey, White Rock, Langley Township, Langley City, Abbotsford and Mission – sent a memo on May 18 to its members.
May 24 - Bitcoin, the decentralized digital currency with global name recognition, has jumped in value once again. The value of the cryptocurrency surged past $2,000 US on May 20, according to data from institutional digital currency exchange GDAX. A single virtual "coin" cost $2,355 US (about $3,182 Cdn) on Wednesday morning, GDAX data showed.
May 22 - Lack of compliance to Financial Action Task Force regulations has impeded international banking relations, a deputy head of the Monetary and Banking Research Institute said. “This has hurt our banks’ credit rating, therefore cooperating with them is now deemed to be highly important,” Kamran Nadri was also quoted as saying by ILNA.