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

December 06 - The Financial Industry Regulatory Authority said on Monday it has fined Credit Suisse's U.S.-based securities business $16.5 million for ineffective anti-money laundering programs. FINRA, the securities industry self-regulator, found that Credit Suisse Securities (USA) LLC relied on its brokers to identify and report suspicious trading, which did not always happen.
December 06 - India - The Enforcement Directorate (ED) has arrested two managers from Axis Bank for their alleged involvement in converting Rs 40 crore of old Rs 500 and 1,000 notes into new currency notes through online transactions. The accused, identified as Shashnk Sinha and Vinit Gupta, were posted in the Kashmere Gate branch of the bank where they allegedly assisted in money laundering with the help of associates, including a chartered accountant, besides shell companies.
December 05 - As Indians struggle with the chaos caused by last month's sudden banning of their 500 and 1,000 rupee notes, money-laundering networks are spreading across the country, seizing on a new market in helping people turn their cash hoards into legal tender. While people have until year-end to deposit old notes in their bank accounts, the government has said it will scrutinize large cash deposits and money with undeclared origins -- and will tax or penalize depositors. That's created a scramble for ways to turn so-called black money, the local term for cash that has evaded taxation, into white.
December 05 - ISLAMABAD: The National Counter Terrorism Authority (NACTA) has handed over 2,000 money laundering cases to the Federal Investigation Agency, sources disclosed. They told Daily Times that under the National Action Plan various intelligence agencies had submitted information to NACTA regarding the companies and people that are operating in various parts of the country specially Lahore and Karachi.
December 05 - The Justice Department today announced a multinational operation involving arrests and searches in four countries to dismantle a complex and sophisticated network of computer servers known as “Avalanche.” The Avalanche network allegedly hosted more than two dozen of the world’s most pernicious types of malicious software and several money laundering campaigns.