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 27 - In a little-noticed statement, the Treasury bureau responsible for investigating financial crimes shared a remarkable money laundering statistic last month. Thirty percent of the cash purchases of high-end real estate by shell companies in six major cities involved a suspicious buyer, according to an investigation conducted by the Financial Crimes Enforcement Network to find out who was behind the deals.
March 26 - A new government report obtained by the Pakistani media has revealed that the major source of funding for terror and extremist groups in the country is crime including extortion, smuggling and kidnapping for ransom. The report by the Financial Monitoring Unit (FMU) in Pakistan titled “National Risk Assessment on Money Laundering and Terrorism Financing 2017” reportedly details how terror groups generate funds through criminal activities.
March 23 - Predicting and acting upon financial fraud is one of the prime areas of application of advanced big data techniques like machine learning (ML). Earlier this week, a case of money laundering known as the Laundromat was uncovered by the Organized Crime and Corruption Reporting Project (OCCRP) involving a number of global banks active in the UK. Could ML help prevent such incidents? What progress is there on this front, how does it fit in the bigger picture, what are the roadblocks, and what may be the repercussions of adoption?
March 23 - The US has named 21 Caribbean countries among a wider global list of Major Money Laundering Countries of 2016. The US State Department this week released the countries in its 2017 International Narcotics Control Strategy Report on Money Laundering and Financial Crimes.
March 22 - When President Donald Trump angrily tweeted earlier this month that there was wiretapping going on in Trump Tower, he was not mistaken, as it turns out. Between 2011 and 2013, the FBI had a court-approved warrant to monitor a Russian money-laundering ring that was operating out of unit 63A in Trump Tower, just three floors below the real estate mogul's gilded penthouse, reported ABC News.
March 22 - In order to protect the international financial system from money laundering and terrorist financing risks, the Financial Action Task Force (FATF) issued two statements on February 24, 2017.