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 10 - Israel on Monday became a full member of the Financial Action Task Force, an international body set up to combat money laundering, terrorist financing and other threats to the international financial system. The Jewish state has now taken its place alongside 37 other members — including most of the G20, the world’s 20 leading industrialized and emerging economies — just 16 years after being blacklisted by the organization.
December 10 - Detectives in Kuwait have been called to investigate several social media influencers for money laundering, according to reports. Arabic publication Al-Jarida cited sources as confirming the notices regarding more than 10 bank accounts belonging to social media stars.
December 10 - Measures to increase transparency and prevent abuse of limited partnerships, which some criminals have used to launder dirty money through the UK were unveiled today (10 December), as the government published its response to the consultation on the reform of Limited Partnership law. Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs) are used by thousands of legitimate British businesses, particularly the private equity and pensions industry, which invest more than £30 billion a year in the UK. However, there are concerns that they are being abused by criminals following large-scale money laundering scandals.
December 07 - Billions of euros of illicit funds are being funneled into German real estate, anti-corruption group Transparency International said in a report on Friday. Germany recently introduced measures to combat money laundering in the real estate sector but the group argues these reforms have been wholly ineffective.
December 06 - On 26 November 2018, the Criminal Justice (Money Laundering and Terrorist Financing) Act 2018 (the "AML Act 2018") was commenced, transposing the majority of the Fourth Anti-Money Laundering Directive ("4MLD") into Irish law. The AML Act 2018 significantly alters and expands the scope of Irish anti-money laundering and counter-terrorist financing ("AML/CFT") legislation, increasing the focus on risk assessment, requiring certain "unregulated" financial institutions to register with the Central Bank of Ireland ("CBI") and bringing certain providers of gambling services within scope of AML/CFT requirements for the first time.
December 04 - Working together with Europol, Eurojust and the European Banking Federation (EBF), police forces from over 20 States arrested 168 people (so far) as part of a coordinated money laundering crackdown, the European Money Mule Action (EMMA). This international swoop, the fourth of its kind, was intended to tackle the issue of ‘money mules’, who help criminals launder millions of euros worth of dirty money. Held over the course of the past three months (September-November 2018), this year’s version of EMMA saw the participation of judicial and law enforcement authorities from Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Greece, Germany, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovenia, Spain, Sweden, Australia, Moldova, Norway, Switzerland, the UK and the USA.
December 03 - British Columbia’s attorney-general is pressing Ottawa on whether police and prosecution have the capacity to handle large-scale financial crimes after the collapse of a money-laundering case allegedly involving hundreds of millions of dollars. In Ottawa, Public Safety Minister Ralph Goodale told reporters he is working to close the gaps in resources that he says can be blamed on funding cuts to the RCMP by the former Conservative government.