Northbrook, IL 60062 -- (SBWIRE) -- 12/15/2022 -- The global Anti-money Laundering Market (AML) size is expected to grow from an estimated value of USD 2.8 billion in 2022 to USD 5.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 15.9% from 2022 to 2027. the Increasing number of fraudulent and money laundering cases, resulting in heavy financial losses and enforcement of compliances and stringent rules and regulations by government authorities are some of the factors that are driving the market growth.

Browse 391 market data Tables and 51 Figures spread through 295 Pages and in-depth TOC on "Anti-money Laundering Market"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=95490454

By Component, Solution segment is projected to grow with higher CAGR during the forecast period

Money launderers or criminals may forge fake signatures and identifications (IDs) to commit digital frauds using someone else's identity. AML was recognized in 1989 by FATF. The AML solutions help reduce digital frauds, illegal transactions, tax evasion attempts, and other payment corruptions by identifying and detecting money laundering activities in the system and reporting them to assigned authorities on time. Although revenue loss is driving the growth of the AML solutions market, the increasing rate of fraud is also significant. The AML solutions can work simultaneously to provide fraud-proof enterprise environments. Various regulations worldwide make this solution a specific regulatory requirement, resulting in the increased adoption of AML solutions to protect payment networks from money laundering and fraudulent attacks.

By deployment mode, on-premises segment to hold a larger market size during the forecast period

The on-premises deployment mode is a traditional approach, wherein solutions are implemented and operated from customers' in-house servers. On-premises solutions provide organizations full control over platforms, applications, systems, and data, which can be handled and managed by their IT staff. In organizations where user credentials are critical for business operations, adopting an on-premises deployment mode is higher as it can control the systems. The on-premises deployment mode enables organizations to control all their business systems and data located on their business premises.

By region, Asia Pacific to grow at the highest CAGR during the forecast period

The Asia pacific region is projected to grow with fastest growing CAGR during the forecast period. The Asia Pacific region is making many efforts to upgrade AML laws, such as establishing FIUs, developing AML-CFT supervisory frameworks for financial institutions, and improving coordination between financial regulatory authorities and law enforcement agencies. Non-compliance with these AML laws results in hefty fines for financial institutions. Banque Nationale de Paris (BNP) Paribas was fined USD 378,500 in China for CDD and reporting breaches. New Zealand High Court has fined two remitters USD 7.6 million for AML breaches. The AML vendors in the region are moving toward automating AML processes by implementing AI and ML technologies and advanced analytics, thereby fueling the adoption of AML solutions in the region.

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=95490454

Key Players

Major vendors in the global AML market include SAS Institute, Inc (US), Fair Isaac Corporation (US), ACI Worldwide (US), BAE Systems (UK), Oracle Corporation (US), Experian (Ireland), LexisNexis Risk Solutions (US), Nice Actimize (US), Fiserv (US), FIS (US), Transunion (US), Wolters Kluwer Financial Services, Inc. (The Netherlands), Temenos (Switzerland), TCS (India), GB Group (UK), Nelito Systems (India), Comarch SA (Poland), Allsec Technologies Ltd (US), Dixtior (Portugal), ComplyAdvantage (UK), Featurespace (UK), Feedzai (US), Napier AI (UK), Tier 1 Financial Solutions (Canada), Finacus Solutions Pvt. Ltd (India), FRISS (The Netherlands), and Jumio Corporation (US). Some other players include SMEs and startups in the AML market, such as IDMERIT (US), IMTF (Switzerland), Innovative Systems (US), Sedicii (Ireland), Trulioo (Canada), NameScan (Australia), DataVisor, Inc. (US), and Gurucul (US).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™ or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/anti-money-laundering-solutions-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/anti-money-laundering-solutions.asp