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

April 15 - Danish operations of Ernst & Young (EY) and KPMG are now under investigation by Danish police related to money laundering cases. According to Bloomberg, EY is accused of failing to notify authorities when it discovered red flags related to the Danske Bank money laundering case. Danske, Denmark’s biggest bank, has been under investigation for its role in a $230 billion money laundering scandal centered on its Estonian branch. In February, Danske was ordered by Estonia to close that branch, and has been given only a few months to do so.
April 12 - Today, Ministers agreed an open-ended Mandate for the FATF and its role leading global action to counter money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The adoption of an open-ended mandate, on the 30th anniversary of the FATF, reflects the fact that these threats are enduring concerns for the integrity of the financial system, and that a sustained political commitment to fight money laundering, terrorist financing, and proliferation financing is required.
April 10 - On Monday, B.C. Attorney General David Eby said he was shocked to find the RCMP is doing “nothing” to investigate money laundering in the province, despite years of negative headlines and estimated billions of dollars in dirty money flowing through the province’s casinos and real estate. He cited a finding from former RCMP executive Peter German’s recently filed review of money laundering in the province’s housing market, that Eby said, shows currently there is not one dedicated federal RCMP officer in B.C. investigating criminal money laundering.
April 09 - Federal and provincial regulators are working together to identify and address money laundering risks in Canada’s real estate sector. FINTRAC announced today that it has signed a Memorandum of Understanding with the Real Estate Council of British Columbia aimed at combatting money laundering in the real estate sector in British Columbia.
April 09 - The British bank Standard Chartered has agreed to pay $1.1 billion to settle allegations by the authorities in the United States and Britain that it violated money-laundering laws and economic sanctions. The authorities, including the Treasury and Department of Justice as well as New York State regulators and prosecutors, said that Standard Chartered had for years processed hundreds of millions of dollars in transactions from countries barred from participating in the American financial system, including Cuba, Iran, Sudan and Syria. Standard Chartered, which is based in London, has extensive operations in Africa and Asia, including the Middle East.
April 09 - Actress Lori Loughlin and her fashion designer husband were among 16 parents involved in the college admissions cheating scam who were indicted by a federal grand jury, which added a money laundering charge to their legal woes, federal authorities announced Tuesday. The parents, including Loughlin and her husband, Mossimo Giannulli, "were charged today in Boston in a second superseding indictment with conspiring to commit fraud and money laundering in connection with a scheme to use bribery to cheat on college entrance exams and to facilitate their children’s admission to selective colleges and universities as purported athletic recruits," the U.S. Attorney's Office in Boston announced.
April 09 - A cheque by cheque analysis of three years of payouts over $10,000 at the River Rock Casino Resort has revealed “no systemic pattern of money-laundering activity,” according to the B.C. Lottery Corporation. The new finding appears to be in conflict with the narrative of money-laundering promoted by the provincial government, which launched a review of casino transactions in late 2017.