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

July 15 - With cryptocurrency came a lot of innovative developments. One of such innovations is the creation of ATM-like machines specifically for dispensing virtual currencies. These machines function like the conventional automated teller machines (ATMs). You can put in a specific amount to get the equivalent worth in crypto coins or convert the cryptocurrencies in your wallet to fiat currency and withdraw the hard cold cash. This development was highly welcomed in the crypto community, only that it happens to fall short of some basic financial rules.
July 15 - At first, Liberal MP Francis Drouin thought he had made it through the Desjardins privacy breach unscathed. Then the email he'd been dreading arrived.
July 14 - Criminal Code amendments to make it easier to prove money laundering are now in force in Canada. The change to the Criminal Code offence of money laundering adds recklessness, a change that became law at the end of June.
July 13 - After a U.S. money-laundering probe rocked Latvia’s economy, sending one of its largest banks belly up, the Baltic nation’s U.S.-born leader is trying to convince Washington and business leaders that he’s cleaning up his country’s financial system for good. In meetings this week with top investors and U.S. policy makers, including Vice President Mike Pence and Treasury Secretary Steve Mnuchin, Prime Minister Krisjanis Karins vowed steps to make a clean slate and attract foreign investment.
July 11 - Ontario MPPs have left Queen’s Park for their annual summer hiatus, but the problem of money laundering and how it affects housing affordability lingers. According to a report by Transparency International Canada released in March, money laundering through real estate is considerably high in the GTA.
July 11 - Rapper Prakazrel “Pras” Michel, a former member of the hip-hop group Fugees, appeared in federal court Thursday for a status hearing in a money laundering and corruption case involving campaign contributions in the 2012 U.S. presidential election. A four-count indictment alleges that Michel, a Haitian American musician who sold millions of albums in the 1990s as part of the Fugees, conspired with a fugitive Malaysian financier, Low Taek Jho, to defraud the U.S. government by moving more than $21 million in overseas funds and funneling a portion into the election.
July 09 - Canada’s porous justice system is promoting the rapid growth of fraud as a business, a former RCMP top investigator has warned. These criminal enterprises are using the same systemic vulnerabilities that foster the prevalence of money laundering in Canada’s largest housing markets, according to Henry Tso, the former head of RCMP’s federal organized crime and financial integrity team in BC.