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

November 16 - The government has adopted updated Anti-money Laundering Regulations which came into force on October 2 2017. The regulations demonstrate the Cayman Islands' ongoing commitment to comply with the highest international standards on combating money laundering and terrorist financing, and aim to ensure consistency with the Financial Action Task Force (FATF) 2012 recommendations, in accordance with its position as a leading international finance centre. The adoption of the regulations is part of an overall update of the Cayman Islands anti-money laundering regime and follows the amended Proceeds of Crime Law which took effect earlier this year.
November 15 - Australia's third-biggest bank, NAB, has said it is investigating and attempting to fix a number of issues relating to money laundering and counter-terrorism funding (AML/CTF) laws. Rival bank CBA is facing penalties for breaching money laundering and counter terrorism funding laws The acknowledgement buried deeply in the bank's annual report follows explosive revelations its bigger rival CBA faced massive penalties for "serious and systematic' breaches of AML/CTF laws.
November 14 - The European Union has called very publicly for Malta to bring to justice the killers of a journalist who accused the Mediterranean island’s leaders of profiting from global corruption. But it has for years been much less vocal -- and had little success -- in ensuring Malta act to prevent money laundering, according to sources familiar with the work of the Maltese authorities and a Reuters review of EU and Maltese data.
November 13 - One of the signature features of the modern age is the bottomless greed of the global economic elite. The richest people in the world — business tycoons, political elites, and wealthy heirs — spend half their time attempting to rake in more cash, and the other half protecting what they already have from as much taxation as possible. The key tool in this latter process is the tax haven: using legal chicanery (and, rather frequently, straight-up fraud) to move income and wealth into jurisdictions where it will be subject to little or no tax. Tax havens have been an obvious problem for decades. But they've gotten special attention from the publication of leaked corporate documents in the Panama Papers, and most recently, the Paradise Papers.
November 13 - AUSTRAC, the Federal Government’s financial intelligence and regulatory agency, has welcomed the Federal Court of Australia providing its judgment in the AUSTRAC and Tabcorp matter. AUSTRAC CEO, Nicole Rose PSM, said that on 16 March 2017 the Federal Court found that Tabcorp had contravened the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) on 108 separate occasions over a period of more than five years.
November 12 - NSW Police say officers 'following the money' as part of a money-laundering investigation have helped dismantle a cocaine supply ring operating in Sydney. Three men were arrested and charged last week over their alleged roles in a criminal syndicate as part of Strike Force Bugam, a joint investigation between the NSW Police organised crime squad and officers from the Australian Criminal Intelligence Commission, into international money laundering syndicates operating in Sydney.