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Press Release

Dec, 01 2023

Combatting Global Anti-Money Laundering: Strategies, Regulations, and Collaborative Efforts for Financial Integrity Worldwide

The global anti-money laundering (AML) market is a dynamic sector dedicated to preventing illicit financial activities. Illicitly funneling billions across international borders, money laundering, constituting 2-5% of global GDP (USD 800 billion to USD 2 trillion), poses a significant economic threat. With increasing instances and its adverse impact on economies, the global anti-money laundering market is anticipated to surge. Financial authorities are actively combatting this pervasive financial evil through stringent measures and advanced technologies to safeguard the integrity of the global financial system.

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Data Bridge Market Research analyses that the Global Anti-Money Laundering Market is expected to reach USD 4.10 billion by 2030, which is USD 1.36 billion in 2022, at a CAGR of 14.80% during the forecast period of 2023 to 2030. There is a growing demand for AML solutions for identification and verification, which can be deployed in various industries such as banking, insurance, and gaming and can significantly drive the global anti-money laundering market in the forecast period.

Key Findings of the Study

Anti-Money Laundering Market

The increasing adoption of advanced analytics in AML is expected to drive the market's growth rate

Advanced analytics, distinct from traditional business intelligence, autonomously analyzes data, aiding AML solutions in predicting and recommending actions against money laundering, financial crimes, and identity theft. With the UNODC estimating USD 2 trillion laundered annually, advanced analytics enhances risk assessment, fraud detection, anomaly detection, and transaction monitoring. This technological evolution saves time and resources and fortifies AML solutions, presenting a substantial growth opportunity for the global anti-money laundering market in the foreseeable future.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Offering (Solution, Services), Function (Compliance Management, Currency Transaction Reporting, Customer Identity Management, Transaction Monitoring), Deployment (Cloud, On-Premise), Enterprise Size (Large Enterprises, Small and Medium Enterprises), End Use (Banks and Financial Institutions, Insurance Providers, Gaming and Gambling, Government, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Microsoft (U.S.), IBM (U.S.), SAP (Germany), SAS Institute Inc. (U.S.), Accenture (Ireland),  Tata Consultancy Services Limited (India), Open Text Corporation (Canada), BAE Systems (U.S.), Intel Corporation (U.S.), Oracle (U.S ), Fiserv, Inc. (U.S.), Cognizant (U.S.), ACI Worldwide (U.S.), Experian Information Solutions, Inc. (U.S.), NICE (U.S.), SEON Technologies Ltd (U.K.), WorkFusion, Inc.(U.S.), Acuant, Inc. (U.S.), Caseware International Inc. (Canada), Sanction Scanner (U.K.)

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Segment Analysis:

The global anti-money laundering market is segmented into five notable segments based on the offering, function, deployment, enterprise size, and end use.

  • On the basis of offering, the global anti-money laundering market is segmented into solution and services. The solution segment is expected to dominate the market during the forecast period of 2023 to 2030 due to the growing demand for AML identification and monitoring solutions for various industries

The solution segment is expected to dominate the global anti-money laundering market during the forecast period of 2023 to 2030

The solution segment is expected to dominate the market from 2023 to 2030 due to the growing demand for AML identification and monitoring solutions for various industries and the rise in product launches.

  • On the basis of function, the global anti-money laundering market is segmented into compliance management, currency transaction reporting, customer identity management, transaction monitoring.  Compliance management is expected to dominate the market during the forecast period of 2023 to 2030 due to an increase in stringent regulations and compliances for AML to strengthen the solution
  • On the basis of deployment, the global anti-money laundering market is segmented into on-premise and cloud. The cloud is expected to dominate the market during the forecast period of 2023 to 2030. The growth is attributed to the rise in money laundering cases across the globe through digital transaction mode
  • On the basis of enterprise size, the global anti-money laundering market is segmented into small and medium-sized enterprises and large enterprises. Large enterprises are expected to dominate the market during the forecast period of 2023 to 2030 due to the increasing focus of financial institutions on digital payment-related issues such as transaction monitoring.
  • On the basis of end use, the global anti-money laundering market is segmented into banks and financial institutions, insurance providers, gaming and gambling, government, and others. Banks and financial institutions are expected to dominate the during the forecast period of 2023 to 2030 due to demands for transaction monitoring systems that assess financial crime patterns.

The banks and financial institutions are expected to dominate the market global anti-money laundering market during the forecast period of 2023 to 2030

The banks and financial institutions are expected to dominate the market during the forecast period of 2023 to 2030 due to demands for transaction monitoring systems that assess financial crime patterns.

Major Players

Data Bridge Market Research recognizes the following companies as the major global anti-money laundering market players in global anti-money laundering market are Microsoft (U.S.), IBM (U.S.), SAP (Germany), SAS Institute Inc. (U.S.), Accenture (Ireland),  Tata Consultancy Services Limited (India), Open Text Corporation (Canada), BAE Systems (U.S.), Intel Corporation (U.S.), Oracle (U.S ), Fiserv, Inc. (U.S.).

Anti-Money Laundering Market

Market Developments

  • In November 2020, ACI Worldwide, Inc. launched a new solution for fraud prevention using cloud. The key feature of this solution was the usage of advanced technologies such as machine learning and predictive analytics to help banks and intermediaries identify and mitigate financial fraud. This solution was designed and launched to meet the fast-changing global fraud landscape, increasing financial institutions' pressure, maximizing operational efficiencies, and mitigating increased risks
  • In September 2020, BAE Systems launched anti-money laundering regulatory compliance solutions for Amazon Web Services. The solution was available to Amazon with reliability and security. The solution also provided various other features such as advisory services & implementation, migration, and management of regulatory and compliance solutions
  • In September 2020, SAS Institute Inc., won AML Solution of the Year from Asia Risk. This recognition was for the solution launched by SAS Institute Inc., for Anti-Money Laundering technology. The key feature of this solution was investigation of efficiency with entity resolution and robotic process automation or automated alert prioritization. This recognition has encouraged the employees and the company to work on unique and innovative solutions for the consumer
  • In June 2020, Experian Information Solutions, Inc. launched a fraud and identity services solution. The key feature of this solution was catching fraud faster, improving compliance, and enhancing the customer experience. This solution constantly evaluates fraud, threats, and changing regulatory requirements by implementing new tools on top of existing solutions. The company launched this solution to strengthen its AML portfolio and expand its market

Regional Analysis

Geographically, the countries covered in the global anti-money laundering market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

Europe is the dominant region in global anti-money laundering market during the forecast period 2023-2030

Europe dominates the anti-money laundering market, propelled by ongoing regulatory enhancements. Key European regulations encompass the payment card industry data security standard, general data protection regulation, and AMLD5 (5th Money Laundering Directive), emphasizing the region's commitment to robust anti-money laundering measures and positioning it as a leader in fostering financial integrity and security.

North America is estimated to be the fastest growing region in global anti-money laundering market the forecast period 2023-2030

North America is expected to dominate the anti-money laundering market, projecting the highest compound annual growth rate from 2023 to 2030. This is attributed to the region's concentration of major key players and a substantial number of banks, fostering increased adoption of anti-money laundering solutions. The robust financial ecosystem in North America positions it as a pivotal hub for advancing AML technologies and practices.

For more detailed information about the global anti-money laundering market report, click here – https://www.databridgemarketresearch.com/reports/global-anti-money-laundering-market


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