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
Payroll platform Deel denies charges that it enabled money laundering, blames competitor for lawsuit
January 24 - Silicon Valley-based payroll platform Deel has requested a Florida court dismiss charges that it facilitated money laundering transactions, contending the case is actually a hit job from its biggest competitor, likely indicating Rippling.
January 24 - The Nigeria police on Wednesday indicted Money Deposit Bank, Sterling Bank over alleged money laundering, fraudulent deductions and other financial crimes by its staff members.
This was contained in a report presented to the House of Representative Committee on Public Petition during the hearing of a petition by Maiden Systems Ltd against Sterling Bank, Central Bank of Nigeria (CBN) and Shell Petroleum in Abuja.
January 23 - Toronto-Dominion Bank is promoting one of its top US anti-money-laundering executives, Jacqueline Sanjuas, to a role that will see her head up financial crime risk management for the entire bank.
Sanjuas, who joined Toronto-Dominion in January 2024, is replacing Herb Mazariegos, the firm said in a statement Thursday evening. She’s already TD’s bank secrecy officer, the executive in charge of ensuring a bank complies with all US anti-money-laundering rules, and will remain in that crucial regulatory position.
January 23 - Vietnam police say they have arrested five people and smashed a money laundering ring that brought $1.2bn of criminal cash into the country from abroad.
Between 2022 and 2024, members of the ring – which included bank employees – forged identification cards and bank seals to establish 187 businesses, opening more than 600 corporate bank accounts, according to authorities.
January 23 - FINTRAC published today a new Operational Alert, Laundering the Proceeds of Illicit Synthetic Opioids, as part of the Government of Canada’s efforts to combat the threat posed by deadly illegal drugs, protect vulnerable communities and save lives. This new Operational Alert will assist businesses in identifying and reporting financial transactions related to the laundering of proceeds from the importation, production and distribution of fentanyl and other illegal synthetic opioids. Reporting from businesses will, in turn, facilitate the production of actionable financial intelligence in support of law enforcement investigations and prosecutions of these appalling crimes.