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
October 26 - An inquiry into money laundering in British Columbia is scheduled to begin hearing witnesses today in Vancouver.
The hearings were delayed until after Saturday's B.C. election.
October 26 - B.C. real estate developer Yongtao Chen stepped onto the podium in a Vancouver hotel ballroom and enthusiastically waved a red flag to a loud round of applause.
He had just accepted a new role as chairman of the Canadian Alliance of Chinese Associations (CACA) and was displaying their banner at an August 2018 political gala in Vancouver.
October 26 - The court in Rotterdam sentenced a man and woman from Hilversum to 2 years and 2.5 years in prison for money laundering. The court forfeited a total of 2,532 bitcoins, currently worth around 25 million euros, and 250 thousand euros in cash.
According to the Public Prosecution Service (OM), the Hilversum couple laundered over 16 million euros in 2.5 years.
October 25 - Parliament has approved a motion by the Government to amend the second schedule of the Anti-Money Laundering Act to address new types of financial scams.
The state minister for finance, David Bahati, explained that the amendment of the second schedule of the AntiMoney Laundering Act, 2013, was required to address a gap in Uganda's current legal framework which does not make provisions for the regulation of Virtual Asset Service Providers (VASPs).
October 23 - A very interesting line-up of witnesses has been announced for the resumption next week of the public inquiry into money-laundering in B.C.
October 19 - The Organised Crime Prosecution in North Macedonia on Monday confirmed the arrest of Risto Novacevski – the best man of fugitive ex-prime minister Nikola Gruevski – naming him as one of several suspects in a case of money laundering and the illicit purchase of building lots. They are seeking 30 days of detention.
The prosecution said it had launched an investigation “against six persons” – starting with Gruevski – “for which there is substantiated suspicion that they have committed a criminal act – money laundering” – and through which they illicitly purchased a large piece of land near Skopje’s elite residential area on Mt Vodno.
October 16 - The Office of the Superintendent of Financial Institutions (OSFI) is seeking to clarify its evolving role in anti-money laundering (AML) efforts.
In a letter to the industry, OSFI reported that it has begun focusing on the prudential implications of federal financial institutions’ AML compliance, while the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) is taking over primary responsibility for evaluating firms’ compliance with AML requirements.