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

February 20 - William Hill has been handed the second-largest fine issued to a UK gambling operator following “systemic” failures to prevent money laundering and problem gambling.  The Gambling Commission said on Tuesday it had fined the FTSE 250 bookmaker £6.2m for profiting from customers who may have used the proceeds of crime to place hundreds of thousands of pounds in bets.
February 20 - PTI’s Secretary Information Fawad Ch on Monday alleged that PML-N President Mian nawaz Sharif had used his party account for money laundering. Addressing a news conference at Chairman Secretariat here, he said that PML-N had established a party office in London before 2013 elections to do money laundering to the tune of billions of rupees in the name of party funding.
February 19 - B.C.’s Attorney General is promising a widespread crackdown in the wake of shocking allegations of money laundering in B.C. real estate linked to the fentanyl trade. The allegations detailed in a report by the Globe and Mail laid out a scheme by which drug dealers would loan dirty money to Chinese immigrants, who put up Vancouver properties as collateral.
February 19 - For a country of 4 million people, Panama has been making global headlines remarkably often in the last two years. A new report that made significantly fewer waves than the Panama Papers was recently published by GAFILAT, the regional anti-money laundering body. While it is far from an easy read, often jargon-heavy and packed with acronyms, the document is an essential source to understand the progress Panama has made in tackling dirty money, and also the significant gaps that remain.
February 19 - US Bancorp agreed on Thursday to pay more than US $600 million in fines, settling allegations by federal prosecutors that they failed to prevent money laundering related to a scam operation run by race-car driver Scott Tucker, who used US Bancorp accounts to launder the proceeds of an illegal $3.5 billion Internet-based payday lending scheme.
February 17 - The Latvian banking regulator, the Financial and Capital Market Commission (FCMC), is launching an immediate inquiry to probe U.S. authorities' allegations that ABLV Bank, the Baltic country's third largest bank by assets, has been involved in money laundering schemes and bribery, FCMC head Peters Putnins said here on Friday. The FCMC inquiry is expected to take a couple of weeks, Putnins said at a news conference, adding that the regulator has not imposed any restrictions on the bank for now.
February 16 - The Honourable Chrystia Freeland, Minister of Foreign Affairs, today announced, on behalf of the Government of Canada, targeted sanctions against Major-General Maung Maung Soe, under the Justice for Victims of Corrupt Foreign Officials Act. These sanctions are a result of the significant role played by this key military official in human rights violations against the Rohingya in Myanmar and in the violence and persecution that has forced more than 688,000 Rohingya to flee their country.