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 18 - A Decatur man and a Venezuelan national were in federal court in Texas on Monday facing charges of violating U.S. sanctions related to Venezuela, illegally smuggling goods from the United States, and money laundering, according to the U.S. Justice Department.
According to the complaint, Thomas Michael Fortinberry, 51, of Decatur, and Juan Carlos Cairo-Padron, 56, of Venezuela, conspired for years to sell chemical catalysts, industrial equipment, and associated services to Venezuelan state-owned steel mills and petrochemical companies that are subject to U.S. sanctions.
June 18 - The Central Bank of the UAE (CBUAE) announced the move as part of a broader crackdown on financial misconduct and efforts to align with global AML/CFT standards.
Sundus Exchange, which had operational ties with Taaj Money Transfer and served East African corridors including Kenya, Ethiopia, and Somalia, has also been removed from the UAE’s list of licensed exchange houses.
June 18 - Cyprus has further reinforced its system for preventing money laundering and combating terrorist financing, according to the 4th Enhanced Follow-up Report published on Wednesday by Moneyval. The island is now rated “largely compliant”.
June 18 - The Financial Action Task Force (FATF) is meeting in Mozambique from 8 to 11 September to decide on the international “grey list” of money laundering, which has included that African country since 2022, the government announced on Monday.
“As part of efforts to remove Mozambique from the grey list, the country has complied with the 26 actions of the FATF plan, which has led this institution to recognise the capacity of our institutions to prevent and combat money laundering and terrorist financing,” said Mozambique’s Finance Minister Carla Loveira during a central bank event held today in Maputo.
June 18 - Australia’s real estate industry is concerned about the readiness of agents, as well as the looming extra costs, of new reforms to stamp out money laundering when they come into force in a year’s time.
The reforms coming into force next July tighten anti-money laundering legislation for the first time since 2006 and require some 90,000 businesses in real estate, law, accountancy and precious stone-dealing to register with federal government agency Austrac by March.