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 15 - Israeli police arrested a French-Israeli billionaire Beny Steinmetz and several businessmen in an international investigation of money laundering, said the source familiar with the investigation from France Press. Steinmetz is the 17th richest man in Israel, his worth valued at more than one billion dollars in the Forbes magazine. Israeli police said that yesterday morning they detained five people on suspicion of committing a false transactions, including real estate transactions in another country, as well as the use of forged documents to transfer and launder money. The arrests are accompanied by searches in suspects homes and offices and
August 15 - Danish police last week raided Swedish banking group Nordea's offices in Copenhagen as part of an investigation by the prosecution service into possible breaches of money laundering rules, they said on Tuesday. "A number of documents and data were siezed from Nordea Bank Denmark on Thursday, August 10," police inspector Thomas Riis said in a statement.
August 14 - The Australian banker is a smug species, arguably more than his international peers. Caught off guard by the financial disasters of the late 1980s and early 1990s, the Australian banking system has become an expression of a classic oligopoly, manipulating prices and squeezing customers. Such an Australian banker is perky as well, self-assured that any inappropriate, let alone illegal behaviour, might be passed off as an effort to do better, to buck trends, to be audacious. Over the last few weeks, AUSTRAC has had little time for that audacity. The financial intelligence agency and regulator had picked up on suspicious transactions made through the Commonwealth Bank of Australia’s “intelligence deposit machines” numbering over 53,000 and exceeding the legal $10,000 limit. The machines in question were part of a CBA modernisation scheme, involving 40 new deposit ATMs that would permit the register of cash deposits in real time.
August 10 - The Philippines escaped action to be meted by the regional watchdog guarding against dirty money transactions after casinos were placed under the coverage of the anti-money laundering law. On its website, the Anti-Money Laundering Council said that during the meeting of the Asia-Pacific Group on Money Laundering (APG) in Sri Lanka last month, “the Philippines has been taken out from APG membership action” after the government reported that President Rodrigo Duterte signed the casino bill into law.
August 03 - Israel’s Shin Bet security service has uncovered a complex Hamas money laundering operation that brought nearly three quarters of a million shekels into the terrorist group’s coffers, the agency announced Thursday. In light of Israeli sanctions on the group, Hamas cannot freely move money in and out of the country. Through this plot, which began in early 2016, the group managed to transfer approximately $200,000 (NIS 720,000) into its Hebron offices from Turkey, with help from Gaza, in order to fund terrorist activities, the Shin Bet said.
August 03 - Commonwealth Bank Australia was accused of 53,700 breaches of money laundering laws by Australia's financial intelligence and regulatory agency, AUSTRAC, on Thursday -- that much you've probably already heard. AUSTRAC alleges Commbank seriously and systematically breached compliance of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) laws using a technique known as "cuckoo smurfing".