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 14 - The City of Vancouver is the latest B.C. municipality to apply pressure on the provincial government to launch a public inquiry into money laundering. City council voted unanimously Wednesday to pass a motion tabled by OneCity Coun. Christine Boyle.
February 13 - As defined under the Fourth and Fifth Anti-Money Laundering Directives, the EU has to establish a list of high-risk third countries, to make sure the EU financial system is equipped to prevent money laundering and terrorist financing risks coming from third countries. Therefore the aim is to protect the integrity of the EU financial system from financial flows involving countries with strategic deficiencies in their anti-money laundering and countering terrorist financing regimes.
February 12 - A sophisticated money laundering ring with international tentacles was behind hundreds of millions of dollars in transactions until it was dismantled this week, federal authorities said Tuesday. The RCMP told a news conference its probe — dubbed “Collector” — uncovered a network with cells in Montreal and Toronto that collected and laundered money primarily from Montreal criminal groups.
February 12 - B.C. Attorney General David Eby revealed Monday his government’s second review of money laundering, this one studying real estate, is also examining the lack of money-laundering prosecutions. Postmedia published the results of an investigation that showed successful money-laundering prosecutions in B.C. are rare and convictions of B.C. residents are more likely in the U.S.
February 07 - A councillor’s chance encounter with a taxpayer in the parking lot of city hall toting “bags of cash” to pay his property taxes has sparked a renewed focus on whether B.C. cities are doing enough to fight money laundering. Counc. Melissa De Genova drafted a motion to council last week after a man carrying a bag of cash approached her outside of city hall and asked her where to go to pay his taxes.
February 07 - Several former investigators who say they lost jobs in B.C.’s casino industry for whistle-blowing are questioning whether some B.C. officials deliberately allowed government-regulated casinos to be used as hubs for money laundering. In an exclusive investigation, Global News has conducted extensive interviews with the casino industry sources, and also reviewed documents and court testimony from several of the sources.
February 07 - FINTRAC today launched a number of new tools aimed at better supporting Canadian businesses in meeting their obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (the Act). This initiative includes: FINTRAC’s Compliance Framework, which provides an overview of the Centre’s guiding principles and the various tools and services used to assist businesses in complying with the Act; the new FINTRAC Assessment Manual, which details how compliance examinations are conducted and helps businesses prepare for an examination; the Centre’s revised Administrative Monetary Penalties policy and a sample penalty calculation; and a notice on FINTRAC’s approach to cases in which businesses voluntarily declare their non-compliance with the Act.