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
November 28 - York Regional Police is updating the community on the sentences three men have received in connection with a human trafficking investigation dubbed Project Eonni.
Investigators with the York Regional Police Major Crime Bureau – Human Trafficking Section initiated the year long project in November 2020 after information led officers to believe that an organized group of suspects operating a company called Moon Waiting VIP was involved in human trafficking throughout the Greater Toronto Area (GTA). Project Eonni began with information received from the Canadian Centre to End Human Trafficking (CCEHT) and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
November 27 - National firm Ashfords LLP has been fined more than £100,000 by the Solicitors Regulation Authority for money laundering compliance failures reported by the firm itself. The fine, the fourth largest imposed by the SRA, was agreed despite the regulator stating that there was no suggestion that any money laundering or other financial crime took place.
In published details of an agreed outcome, the SRA said Ashfords has agreed to pay a penalty of £101,357 plus investigation costs of £1,350. The regulator said it had identified areas of concern in relation to compliance with the 2017 AML regulations and the SRA principles and code of conduct.
November 27 - The Financial Crimes Enforcement Network (FinCEN) joins twelve financial intelligence units (FIUs) in issuing a public statement today, recognizing the formation of a task force of like-minded FIUs who aim to strengthen efforts to disrupt international financial flows to Hamas and other terrorist organizations. This task force was established immediately following the brutal terror attacks by Hamas against Israel on October 7.
November 24 - A Vancouver lawyer has been disbarred from practicing law in B.C. after he received $900,000 in “legal fees” for his role in helping clients hide millions of dollars from U.S. authorities.
By helping his clients engage in an elaborate securities fraud, Ronald Norman Pelletier “abused his trust account and allowed his clients to profit from their illicit funds,” said the Law Society of BC in a hearing panel this week.