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 26 - A new set of rules which come into force today are aiming to make it harder for terrorists and criminals to move money through the UK’s financial system. The new regulations implement the EU 4th Money Laundering Directive, and see a number of businesses, from banks to estate agents, having to carry out detailed checks to ensure that money changing hands comes from a legitimate source, and won’t be use to fund terrorism.
June 26 - French authorities charged the daughter and son-in-law of Congo’s President with “money laundering and misuse of public funds,” as part of a larger investigation into the assets of three African presidential families, media reported Sunday. Julienne Sassou Nguesso, 50, and her husband, Guy Johnson, 53, are under investigation for purchasing a three million euros (US$ 3.4 million) home in 2006 in the Neuilly-sur-Seine, a ritzy Paris suburb.
June 26 - Uganda will in September host a group of international experts to try and convince them that the country's financial system is well-regulated enough to combat money laundering and terrorism financing. The visit is being organised on the back of threats that Uganda could be downgraded by the Financial Action Task Force (FATF) to the red zone of the organisations ratings, putting the country at the same level as pariah states such as North Korea and Iran.
June 26 - New UK legislation goes into effect Monday regulating Scottish Limited Partnerships (SLPs), a unique corporate structure that has been increasingly abused by money launderers. The laws announced Friday by the Department for Business, Energy and Industrial Strategy will force about 30,000 SLPs to disclose their beneficial owners within the next 28 days, or face daily fines of up to £500 ($US 636).
June 26 - A global anti-money laundering task force kept North Korea blacklisted as Pyongyang defiantly pursues its nuclear and missile development programs, South Korea's financial regulator said Monday. The Financial Action Task Force, at its annual meeting of 37 members in Spain last week, also called on member countries to apply effective countermeasures against North Korea's attempts to finance illicit weapons programs, Seoul's Financial Services Commission said in a statement.
June 22 - Luxembourg watchdogs have fined the local arm of Swiss private bank Edmond de Rothschild for its handling of funds linked to scandal-hit Malaysian investment fund 1MDB, a source familiar with the matter said on Thursday. The authorities and the bank confirm ed Edmond de Rothschild had been fined nearly 9 million euros ($10.1 million) for failing to take proper safeguards against money laundering. They did not comment on news reports that the case concerned 1MDB.