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

December 08 - A former minister who led a French government crackdown on tax evasion was sentenced to three years in jail on Thursday for hiding an offshore bank account of his own, in a scandal that deeply embarrassed President Fran├žois Hollande. A Paris court found Jerome Cahuzac, a cosmetic surgeon by trade who was made budget minister when Hollande won power in 2012, guilty of tax fraud and money laundering.
December 07 - Switzerland has boosted anti-money laundering measures over the last decade but could still do more to prevent financial crime, the inter-governmental Financial Action Task Force (FATF) said on Wednesday. Once a haven for untaxed and illicit assets, the small but influential finance hub has been stung into action by a global push to combat money laundering and financial crime. That has led to considerable improvement in its efforts since 2005, the global task force said.
December 07 - Twenty-two Hongkongers accused of laundering HK$13 million through their bank accounts were rounded up in a series of police raids across the city on Wednesday. The money was suspected to have been linked to 18 deception cases in Canada, Singapore, Taiwan, South Korea and Africa last year and this year. Senior Inspector Sophia Lau Pak-wing of the commercial crime bureau said the cases included investment frauds and email scams. It is understood one case in Africa involved a loss of HK$4.8 million.
December 06 - The Financial Industry Regulatory Authority said on Monday it has fined Credit Suisse's U.S.-based securities business $16.5 million for ineffective anti-money laundering programs. FINRA, the securities industry self-regulator, found that Credit Suisse Securities (USA) LLC relied on its brokers to identify and report suspicious trading, which did not always happen.
December 06 - India - The Enforcement Directorate (ED) has arrested two managers from Axis Bank for their alleged involvement in converting Rs 40 crore of old Rs 500 and 1,000 notes into new currency notes through online transactions. The accused, identified as Shashnk Sinha and Vinit Gupta, were posted in the Kashmere Gate branch of the bank where they allegedly assisted in money laundering with the help of associates, including a chartered accountant, besides shell companies.