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

January 22 - LONDON — Estate agents are being slammed with "business busting" fines under new anti money laundering regulations, according to the head of the National Association of Estate Agents (NAEA), but the amounts are not public. Tighter regulations were introduced in 2017 under the Money Laundering Regulations, which require estate agents to do anti-money-laundering checks on both the buyers and sellers of properties.
January 22 - Last week, the Office of the Comptroller of the Currency (“OCC”) released its semiannual risk report (“Report”) highlighting credit, operational, and compliance risks to the federal banking system. The Report focuses on issues that pose threats to those financial institutions regulated by the OCC and is intended to be used as a resource to by those financial institutions to address the key concerns identified by the OCC. Specifically, the OCC places cybersecurity and Anti-Money Laundering (“AML”) among the top concerns highlighted in the Report. The Report further observes that the total number of enforcement actions by the OCC against banks — instituted for any kind of alleged violations — have declined steadily after peaking in 2009.
January 21 - A recent report from the joint Bitcoin analysis team of FDD and Ellicit, a Bitcoin forensics company, indicates that less than one percent of all Bitcoin transactions involve money laundering. The report, written to help analyze the flow of funds and the danger of money laundering, has indicated that money laundering isn’t nearly the problem some critics of cryptocurrency believe.
January 19 - Britain's Department for Business, Energy and Industrial Strategy on Thursday announced the world's first public register that requires overseas companies which own or buy property in the country to provide details of their ultimate owners. The register is a move by the government to crack down on criminals who launder money through the British property market.
January 19 - Once partners in a gold-fueled money-laundering racket between Latin America and Miami, Samer Barrage and Juan Granda stood as ashamed and apologetic defendants on Friday while a federal judge sent them to prison for their multibillion-dollar crime. U.S. District Judge Robert Scola gave Barrage nearly seven years and Granda six years in prison, granting them some credit for their assistance to federal prosecutors in the unfolding $3.6 billion money-laundering conspiracy case that has rattled the nation’s precious-metals industry.
January 18 - A recent study from the Foundation for Defense of Democracies’ Center on Sanctions and Illicit Finance and blockchain analytics company Elliptic explored the “bitcoin laundering” ecosystem. In the study, Elliptic’s forensic analysis of the Bitcoin blockchain and other publicly available data were used to track the flows of illicit funds from 2013 to 2016. “This study aimed to identify where individuals turn in order to cash out or transmit bitcoins (BTC) acquired from illicit entities and to discover typologies for criminals ‘laundering’ bitcoins,” the report says.