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

August 11 - For years, Paul King Jin has been accused of being one of B.C.’s biggest money launderers. But as the allegations against the Richmond gym owner mount, he has still not been charged with any criminal offence despite years-long police investigations. Now the B.C. government has filed its fourth civil forfeiture lawsuit against Jin in three years to go after real estate in Vancouver and West Vancouver valued at almost $10 million.
August 10 - Two containers of food bound for Afghanistan have been cancelled by a Canada-based aid agency because of a law banning any dealings with the Taliban. World Vision says it has been forced to cancel a large shipment of "therapeutic food," which it said could have fed around 1,800 children. Asuntha Charles, World Vision Afghanistan's national director, said the country is facing a dire humanitarian crisis and the shipment of food had to be cancelled because of "unnecessary restrictions."
August 08 - Citing its alleged involvement in money laundering, the U.S. Treasury has banned so-called virtual currency “mixer” Tornado Cash from doing business in the U.S. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Tornado Cash, which it said has been used to launder more than US$7 billion worth of virtual currency since its creation in 2019 — including the proceeds of North Korean hacking.
July 28 - A 20-year-old Ottawa woman has been charged for allegedly scamming a Sudbury senior out of $9,000 in a grandparent scheme and Sudbury police say they are concerned there may be more victims. It is a scam that has been circulating for years, but elderly victims in several northern Ontario communities have fallen prey to it recently prompting police to issue warnings. On Monday, Sudbury police said they received a complaint from a local woman who said she received a phone call from someone pretending to be her granddaughter from phone number 236-335-0168.
July 27 - The Hamilton-Niagara police, with the assistance of the Ontario Provincial Police and Financial Transactions and Reports Analysis of Canada (FINTRAC), has unravelled a drug trafficking and money laundering scheme, which led to multiple charges involving several individuals. The investigation began in 2017 when the RCMP began gathering information about a potential money laundering scheme operating through casinos in the Greater Toronto Area and Niagara regions. Through the investigation, police discovered that more than $3 Million was laundered from the illegal sale of over 8,000 pounds of cannabis.
July 21 - Two people have been charged following a fentanyl seizure in Southeast Alberta. ALERT seized nearly 700 grams of suspected fentanyl powder in Brooks, Alta. The fentanyl seizure was completed after ALERT Medicine Hat’s organized crime team executed a planned traffic stop in Brooks on July 6, 2022. Two suspects were arrested at the time. Following the vehicle stop, a home in Empress, Alta. was searched where additional drugs were located. In total, ALERT seized what amounts to approximately $135,000 worth of drugs, including; 679 grams of suspected fentanyl; 1,110 illicit prescription pills; 1 gram of cocaine; Suspected GHB; and $15,400 cash.
July 18 - Canadians are inundated with scam emails, texts and phone calls on a daily basis. While criminals pretending to be with Canada's big banks is nothing new, they are now trying a new credit card scam that everyone should know about. I recently got a phone call out of the blue saying I could receive zero per cent interest on all my credit cards for a period of three years. I knew it was a scam, so I recorded the call and tried to keep the scammer on the line.