How much money is laundered through NZ business yearly?

Over $1 billion*

New Zealand is a target for money launderers, and since 2013 we’ve had anti-money laundering laws in place that applied to banks, financial institutions and some trust and company service providers. These laws have since extended to lawyers, conveyancers, accountants and real estate agents, and as of 1st August 2019 have extended to cover dealers of high value goods and the New Zealand racing board.

“Our country is a target for money launderers. It’s estimated that over $1 billion a year comes from drug dealing and fraud, and can be laundered through New Zealand businesses. Risking our reputation and economy.”
Department of Internal Affairs, www.keepourmoneyclean.govt.nz

If your organisation is one that must comply under these laws, ensuring that relevant anti-money laundering documents and information is kept up to date is no small task. Canon Business Solutions NZ provide organisations with the ability to transform their scanned anti-money laundering documents into useable files with unprecedented levels of accuracy, tagged with sensible file names, using ABBYY Flexicapture as the platform.

ABBYY can be configured to capture and validate identity information in various formats – drivers licenses, credit cards, birth certificates, passports, firearms licenses and more – and from there, transform the information into usable documents.

As a result of a recent successful deployment of the ABBYY solution, Canon Business Solutions NZ is delighted to have been awarded ABBYY software’s Fast Start Partner of the Year Award for 2019.

ABBYY Flexicapture is an optical character recognition and document capture software platform, offered by Canon Business Solutions NZ, ABBYY FlexiCapture is an intelligent platform for capturing meaningful data, relationships and insights from documents, forms and correspondence to improve business outcomes. It transforms documents into business value by capturing and validating information in any format at its point of need. Intelligently digitising documents and automating document processes, FlexiCapture helps organisations remove risk and cost while accelerating revenue and drive competitive advantage every day.

“Any business that provides these services will need to put systems and processes in place to prevent criminals from trying to exploit them, and ensure they can identify their customers, know their addresses and, in some cases, know the sources of their customers’ funds.”
Department of Internal Affairs, www.keepourmoneyclean.govt.nz

Canon Business Solutions NZ provides companies with the Freedom to Focus on their core business by offering products and expertise related to Imaging Technology, including Print, Video Conferencing, Digital Signage and Automation Software.

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