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

February 19 - In July 2018, an international agency that sets anti-money laundering standards quietly released an explanatory report on professional money laundering. In the 53-page report, the Paris-based Financial Action Task Force made a stunning claim: A “massive” underground bank in B.C. had laundered more than $1 billion a year.
February 19 - Estonia ordered Danske Bank to close its local branch within months on Tuesday, as Estonian and Danish regulators faced an EU inquiry into their efforts to prevent one of the largest-ever money laundering scandals. The Baltic state has taken centre stage since Danske Bank's Estonian branch was found to have helped funnel some 200 billion euros ($226 billion) in suspicious payments from Russia, ex-Soviet states and elsewhere.
February 18 - Two prominent research papers have shed light on the latest crime trends affecting the cryptocurrency community over the past two years. Crypto analytics companies Chainalysis and CipherTrace released reports at the end of January that unpack some interesting data on the methods that criminals have used to steal and defraud users within the cryptocurrency and blockchain space.
February 18 - A prolific money launderer who processed more than £6m has been convicted after a National Crime Agency investigation. Kazeem Akinwale, 43, was caught after Christie’s auction house reported an attempted diversion fraud.
February 18 - In light of Slovenia’s progress in strengthening its framework to tackle money laundering and terrorist financing since the adoption of its mutual evaluation report in June 2017, MONEYVAL has re-rated the jurisdiction on one Recommendation originally rated “partially compliant”. Slovenia has been in an enhanced follow-up process, following the adoption of its mutual evaluation report, which assessed the effectiveness of Slovenia’s anti-money laundering and counter-terrorist financing (AML/CFT) measures and their compliance with the 40 Recommendations by the Financial Action Task Force (FATF). In line with MONEYVAL’s rules of procedure, Slovenia reported back to MONEYVAL on the steps taken to strengthen its AML/CFT framework.
February 14 - With Brexit fast approaching, there are growing worries surrounding the U.K.’s financial and economic well-being after leaving the safety blanket of the European Union. Among fears of the U.K. heading towards economic turmoil, we must also consider the real threat of rising risk in the financial crime space – money laundering, in particular.
February 13 - As defined under the Fourth and Fifth Anti-Money Laundering Directives, the EU has to establish a list of high-risk third countries, to make sure the EU financial system is equipped to prevent money laundering and terrorist financing risks coming from third countries. Therefore the aim is to protect the integrity of the EU financial system from financial flows involving countries with strategic deficiencies in their anti-money laundering and countering terrorist financing regimes.