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

September 20 - The Financial Crimes Enforcement Network (FinCEN) today issued an advisory to alert financial institutions of widespread public corruption in Venezuela and the methods Venezuelan senior political figures and their associates may use to move and hide proceeds of their corruption. The advisory also describes a number of financial red flags to assist in identifying and reporting suspicious activity that may be indicative of corruption.
September 19 - Recent testimony before the US Senate revived allegations that a Venezuela-owned company in Nicaragua may have laundered money for Colombia's demobilizing FARC guerrillas, once again raising the question of whether foreign governments may have been complicit in washing the fighters' dirty cash. On September 12, Douglas Farah, the president of the national security consulting firm IBI Consultants, testified before the Senate Caucus on International Narcotics Control regarding adapting US counternarcotics efforts in Colombia.
September 19 - 31,000 That’s how many Canadian businesses are subject to reporting requirements under federal laws against money laundering. They include banks, accounting firms and the fast-growing fintech industry, the main focus of companies in the emerging regulation technology sector—like Vancouver’s Trulioo, whose identity verification systems help businesses prove they aren’t helping hide dirty money.
September 19 - Equifax Canada said a massive cybersecurity breach at the company may have exposed the personal information of about 100,000 Canadian consumers. Equifax is a consumer information company that provides, among other services, credit information and credit ratings on individuals.
September 19 - Five men have admitted being part of a network responsible for laundering at least £16 million stolen by international cyber criminals, following an investigation by the National Crime Agency. Iurie Mereacre, a 37-year-old Moldovan national, ran the money laundering service from his home in Woodford Green, London, along with his associates, brothers Iurie Bivol (36) and Serghei Bivol (31), and Ryingota Gincota (28).
September 18 - Airbus, Europe’s largest aerospace multinational, has launched an internal investigation into possible corruption after the Guardian uncovered a series of questionable financial transactions resulting in an unexplained payment. Hundreds of pages of leaked bank records, internal memos and financial statements reveal that two companies secretly controlled by the aviation giant engaged in transactions involving €19m (£16.7m), a large part of which was then routed to a mysterious company via a tax haven.