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 14 - Vancouver police are issuing a warning and releasing surveillance video showing what they're calling an alarming new scam that tricks seniors into thinking their loved ones have been arrested and convinces them to hand over thousands of dollars. The scam was first reported to police Jan. 12, when a West Side couple in their 70s received a call from a man who claimed their nephew had been in a car accident and needed $8,000 to get out of jail, according to a statement from Vancouver police
January 14 - It’s one of the hottest corners of crypto -- and now the U.S. government wants its share of the profits. Investors and creators of nonfungible tokens -- a market that has ballooned to $44 billion, Chainalysis data show, and attracted fans from Justin Bieber to Melania Trump -- face billions of dollars in taxes and rates as high as 37%, according to tax experts. Internal Revenue Service officials who deal with tax evaders say they are gearing up for a crackdown.
January 13 - A group of U.S. state banking regulators dropped its lawsuit seeking to block the federal government from granting bank charters to fintech companies on Thursday, after the company that was first in line modified its business plan. The Conference of State Bank Supervisors (CSBS) sued the U.S. Comptroller of the Currency (OCC) in 2020, arguing that giving national bank status to fintechs would flout states' authority to oversee non-bank lenders.
January 11 - Turkish police detained 40 people last week in relation to an alleged money laundering scheme perpetrated on the streaming platform Twitch, the latest instance of a video game ecosystem being appropriated for purposes of fraud.
January 10 - A Toronto businessman accused in court filings of being one of two masterminds in a multimillion-dollar COVID-19-related Ponzi scheme can't be located as angry creditors, their lawyers and shadowy figures with ties to illegal gambling rings try to find him and their money. Mark E. Cohen, who previously worked in the rental car industry at Toronto's Pearson International Airport, hasn't been seen at his North York home since August, according to documents filed with the Ontario Superior Court of Justice. The documents also say that he hasn't been in contact with investors for months.
January 08 - A drug and money laundering investigation called "Operation Mad Money—which stretched from Toronto to British Columbia to China—has shown links between illegal marijuana sales and Toronto’s booming real estate market, CTV News Toronto has learned. The investigation, led by the Calgary Police Service, is part of an attempt to seize millions in what authorities allege are drug profits that ended up in money service businesses in the Greater Toronto Area, who passed them along to people trying to buy homes.
January 05 - The Biden administration’s new strategy to combat foreign corruption is noteworthy, and in-house counsel and company boards need to start asking certain questions. Jason Linder, co-chair of Mayer Brown’s global anti-corruption practice, and former Mayer Brown partner Audrey Harris examine what stakeholders need to focus on to keep pace with the coming expanding enforcement.