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

June 21 - Loto-Québec has welcomed the findings stemming from an independent audit, with the group saying that recommendations fall in line with the steps it has already taken to improve its practices. The examination focused on four pillars of intervention: money laundering, loan sharking, loyalty programs, and the independence and security of employees, with Loto-Québec fully co-operating throughout.
June 21 - Financial firms are spending almost £29bn per year to comply with anti-money laundering (AML) regulations, research claims. All Financial Conduct Authority (FCA)-regulated firms, including peer-to-peer lenders, are mandated to have AML procedures in place.
June 21 - Three women who thought they had found love through online dating sites are sharing how they unwittingly became part of a money laundering scheme run by scammers. NBC News investigative and consumer correspondent Vicky Nguyen spoke with the women, who are hoping their stories will warn others away from potentially becoming "money mules," which theFBI defines as "someone who transfers or moves illegally acquired money on behalf of someone else."
June 19 - The EU Global Facility on Anti Money Laundering and Countering the Financing of Terrorism (AML/CFT) on Saturday concluded a four-day scoping mission to Jordan, where they met with representatives from key governmental institutions and entities working in the field of AML/CFT. Co-organised with the AML/CFT Unit (AMLU Jordan), the visit was part of the Global Facility’s ongoing technical assistance to Jordan, which started in November 2020 and targets all Jordanian AML/CFT competent authorities, according to a statement made available to The Jordan Times.
June 19 - The federal agents who raided a drug dealer’s house in a suburb of Philadelphia found marijuana and, to their surprise, $2.5 million in cash stashed in a secret compartment beneath a fish tank. But they were even more surprised to discover so much art — 14 paintings on the walls and another 33 stacked in a storage unit a few miles away from the home of the dealer, Ronald Belciano. The artists included Renoir, Picasso and Salvador Dalí.
June 18 - As much as anti-money laundering is old as money, it has undeniably become more important in the last century. People who committed acts deemed as criminal by their governments found that they could benefit from crime by simply concealing the origins of the proceeds and streaming them back into the financial system. It was then discovered that the easiest way to do so was to take the money out of the country and make it hard to trace. Consequently, over the course of years, anti-money laundering has become an issue for the international community and has made it necessary for them to cooperate and take a stand.
June 16 - Italian police said on Wednesday they had broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China. The three-year investigation, coordinated by the anti-mafia prosecutor's office in the northeastern city of Trieste, showed the enormous lengths gangs were having to go to in order to clean ill-gotten gains, police said.