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

June 29 - Victoria - The former head of Canada's Federal Bridge Corporation (FBC) and his wife have been charged with a string of corruption offences tied to allegations of kickbacks and a $127 million contract awarded to the engineering firm SNC-Lavalin to refurbish Montreal's Jacques Cartier Bridge. The RCMP yesterday raided the Victoria home of Michel Fournier and his wife Judith Barkley-Fournier.
June 29 - British Columbia - A four-month probe of alleged wrongdoing in the real estate industry has recommended wide-ranging reforms, including higher disciplinary penalties of up to $250,000 for realtor misconduct, and up to $500,000 for agencies. The Independent Advisory Group chaired by B.C. Superintendent of Real Estate Carolyn Rogers has issued 28 recommendations, many of which are designed to better protect the public from unscrupulous agents.
June 29 - Ottawa - Canada's spy agency has been frustrated in trying to track Canadians who travel overseas to fight for ISIS and other extremist groups because the country's diplomatic service is refusing to play ball. That's the complaint of the Canadian Security Intelligence Service, which says Global Affairs Canada (GAC) has not volunteered key security information, and drags its feet when asked for specific files on citizens and others.
June 20 - Canada - Amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and its associated Regulations have changed the methods that reporting entities can apply to ascertain the identity of clients. For one year (June 17, 2016 – June 17, 2017), there will be a transitional period during which either the methods described in this guideline or the methods listed in Guideline 6 (a) to (j) can be used. As of June 17, 2017, this transitional year will end and you will be required to apply the methods listed in this guideline to ascertain the identity of your clients.