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
September 09 - A cross-border tax evasion and money laundering scheme involving Greece, Cyprus and Slovakia has led to the arrest of 21 people, Greek police said on Monday.
Greece’s police said the case amounts to a €26 million tax fraud, in which at least 430 front companies were set up across all three countries.
September 09 - Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis (FTA) on mail theft-related check fraud incidents based on Bank Secrecy Act (BSA) data filed in the six months following FinCEN’s issuance of its 2023 alert on this same topic. During the review period, FinCEN received 15,417 BSA reports from 841 financial institutions on mail theft-related check fraud, amounting to more than $688 million in reported suspicious activity.
“Financial institutions responded to FinCEN’s alert on mail theft-related check fraud by providing BSA filings that are critical to curtailing this egregious fraud that is affecting communities across the United States,” said FinCEN Director Andrea Gacki. “FinCEN values its ongoing collaboration with the United States Postal Inspection Service (USPIS) to raise awareness of this criminal activity impacting innocent Americans across the country.”
September 08 - The 2024-2027 plan includes new committees and a crackdown on gold sector violations to improve transparency
The UAE, previously removed from the “gray list” of money-laundering havens, has introduced new laws aimed at boosting investor confidence. These changes are part of the government’s 2024-2027 National Strategy for Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Proliferation Financing.
September 07 - Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its flagship Las Vegas Strip property.
The publicly traded company said a non-prosecution settlement reached Friday represented a monetary figure identified by the U.S. Justice Department as “funds involved in the transactions at issue” at the Wynn Las Vegas resort.