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 13 - The fight against money laundering is key to ensuring financial stability in Europe, experts of the Polish Institute of Economics (PIE) assessed. They pointed out the need to tighten regulations preventing such crimes throughout the EU. As PIE experts have emphasized, legal loopholes in one EU country adversely affect other Member States and the Community as a whole.
July 13 - The CARES Act, which was passed into law in late March, has been providing financial relief to consumers and businesses across the country. With money being moved into the economy, scammers are looking to profit at the expense of the everyday consumer. BBB has received reports of consumers being targeted over dating apps and roped into laundering the funds received from the CARES Act. It starts out like a typical romance scam: You find a great match, and after some chatting, they suggest you move the conversation off the app. Before long, your match begins asking for favors, such as receiving money for them and wiring it to another account.
July 10 - Interconnected registers of beneficial owners, a preventive blacklisting policy and effective sanctions are among tools proposed by MEPs to stop money laundering. In a resolution adopted on Friday with 534 votes to 25 and 122 abstentions, MEPs welcomed the Commission’s Action Plan on how to fight effectively against money laundering and terrorist financing and highlighted the most pressing changes needed to achieve an efficient EU framework.
July 10 - The National Police have brought multiple charges relating to corruption and money laundering against captured fugitive Maria Pauline Lumowa, who has been wanted for 17 years as a suspect in a major fraud case. The National Police’s Criminal Investigation Department (Bareskrim) chief Comr. Gen. Listyo Sigit Prabowo said Maria had been charged under the 2001 Corruption Law and the 2003 Money Laundering Law.
July 09 - ttorney Mel Georgie Racela runs the Anti-Money Laundering Council Secretariat in the Philippines, one of two agencies tasked with getting to the bottom with the country’s involvement in the Wirecard scandal. He talks to Chris Wright.
July 06 - Switzerland is squandering valuable lessons from the forced dismantling of banking secrecy a decade ago. As host to some of the world’s largest corruption scandals in recent history, Switzerland displays a stunning lack of interest in the issue.
July 06 - Clearview AI, the controversial U.S.-based technology firm, will no longer make its facial recognition software available in Canada. Federal and provincial privacy authorities made the announcement on Monday and then Clearview confirmed it to CBC News. A statement issued by the Office of the Privacy Commissioner of Canada said Clearview had advised officials of the decision in response to an ongoing investigation by the privacy authorities of Canada, Alberta, British Columbia and Quebec.