Anti-Money Laundering Global Market Report 2023: The Rise of Digital Payments and How Anti-Money Laundering Solutions Safeguard Online Transactions

Dublin, July 28, 2023 (GLOBE NEWSWIRE) -- The "Anti-Money Laundering Global Market Report 2023" report has been added to's offering.

Unveiling the Anti-Money Laundering Market: Curbing Illicit Financial Activities

The global anti-money laundering market is witnessing robust growth as financial institutions intensify efforts to combat money laundering and terrorist financing. This comprehensive report delves into the various types of anti-money laundering solutions, technological innovations, market trends, and regional prospects. With an in-depth analysis of the market's past, present, and future, this research equips stakeholders with valuable data to navigate the dynamic landscape and drive effective strategies for combating financial crimes.

Introduction: Anti-money laundering (AML) measures are essential for financial institutions, including banks, insurers, and gaming establishments, to detect and prevent unlawful activities related to money laundering and terrorist financing. AML policies and regulations, such as Know Your Customer (KYC) and Customer Due Diligence (CDD), along with transaction screening and monitoring, form the foundation for maintaining integrity within the financial system. By identifying and stopping fraudulent transactions, AML practices mitigate the risk of illegal income generation.

Types of Anti-Money Laundering Products: The key product types in the anti-money laundering market include compliance management, currency transaction reporting, customer identity management, and transaction monitoring. Compliance management focuses on preventing potential offenders from engaging in fraudulent activities, aligning systems with business policies, industry standards, and regulatory requirements. Software and services, deployed through cloud and on-premise solutions, play crucial roles in ensuring effective compliance. Anti-money laundering products cater to a range of organizations, from small and medium enterprises (SMEs) to large enterprises, with end-users spanning industries like BFSI, government, healthcare, IT & telecom, and more.

Market Size and Growth: The anti-money laundering market is experiencing robust growth, projected to rise from $2.17 billion in 2022 to $2.53 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 16.5%. The Russia-Ukraine war, economic sanctions, inflation, and supply chain disruptions have impacted global markets in the short term. Nevertheless, the anti-money laundering market is expected to reach $4.5 billion by 2027 at a CAGR of 15.5%, showcasing its resilience amid challenging geopolitical dynamics.

Technological Innovations: Innovation is a key trend driving the anti-money laundering market, with major companies focusing on advanced solutions to combat illegal financial activities. ThetaRay, an Israeli fintech software and big data analytics company, launched an advanced version of its SONAR SaaS anti-money laundering (AML) platform, enabling faster investigations and detection of new typologies. NICE Actimize, a US-based software company, acquired Guardian Analytics, specializing in machine learning technology to prevent banking and money laundering fraud, reinforcing the future of financial risk management.

Regional Growth Trends: In 2022, North America emerged as the largest region in the anti-money laundering market, while Asia-Pacific is expected to witness the fastest growth in the forecast period. The report covers market data for regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, encompassing countries like Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The Role of Digital Payments: The growing focus on digital payments and internet banking is set to propel the anti-money laundering market further. With digital payments becoming increasingly prevalent, anti-money laundering technologies play a vital role in safeguarding online transactions and reducing money-laundering risks. In 2020, China and the US dominated digital payment transactions, with China accounting for approximately 45% and the US holding 20% of the market share.

Conclusion: The fight against money laundering and financial crimes remains a global priority, and the anti-money laundering market continues to evolve with innovative technologies and rigorous compliance measures. This comprehensive market report equips stakeholders with reliable data and analysis to capitalize on growth opportunities, enhance AML strategies, and build a resilient financial ecosystem.

Key Attributes

Report AttributeDetails
No. of Pages200
Forecast Period2023-2027
Estimated Market Value (USD) in 2023$2.53 billion
Forecasted Market Value (USD) by 2027$4.5 billion
Compound Annual Growth Rate15.5%
Regions CoveredGlobal

Key Topics Covered

1. Executive Summary
2. Anti-Money Laundering Market Characteristics
3. Anti-Money Laundering Market Trends and Strategies
4. Anti-Money Laundering Market - Macro Economic Scenario
5. Anti-Money Laundering Market Size and Growth
6. Anti-Money Laundering Market Segmentation
7. Anti-Money Laundering Market Regional and Country Analysis
8. Asia-Pacific Anti-Money Laundering Market
9. China Anti-Money Laundering Market
10. India Anti-Money Laundering Market
11. Japan Anti-Money Laundering Market
12. Australia Anti-Money Laundering Market
13. Indonesia Anti-Money Laundering Market
14. South Korea Anti-Money Laundering Market
15. Western Europe Anti-Money Laundering Market
16. UK Anti-Money Laundering Market
17. Germany Anti-Money Laundering Market
18. France Anti-Money Laundering Market
19. Eastern Europe Anti-Money Laundering Market
20. Russia Anti-Money Laundering Market
21. North America Anti-Money Laundering Market
22. USA Anti-Money Laundering Market
23. South America Anti-Money Laundering Market
24. Brazil Anti-Money Laundering Market
25. Middle East Anti-Money Laundering Market
26. Africa Anti-Money Laundering Market
27. Anti-Money Laundering Market Competitive Landscape and Company Profiles
28. Key Mergers and Acquisitions in the Anti-Money Laundering Market
29. Anti-Money Laundering Market Future Outlook and Potential Analysis
30. Appendix

A selection of companies mentioned in this report includes:

  • NICE Actimize Ltd.
  • Tata Consultancy Services Limited
  • Trulioo Inc.
  • ACI Worldwide Inc.
  • SAS Institute Inc.
  • Fiserv Inc.
  • Oracle Corporation
  • Bae Systems India (Homeland Security) Private Limited
  • Accenture Solutions Pvt. Ltd.
  • CaseWare RCM Inc.
  • TransUnion Holding Company Inc.
  • Cognizant Technology Solutions Corporation
  • SAP AG
  • Jumio Corporation
  • Comarch SA
  • Feedzai Inc.
  • Napier Technologies Limited
  • IBM Corporation

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Global Anti-Money Laundering Market

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