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唐朱昌
唐朱昌
教授,博士生导师。复旦大学中国反洗钱研究中心首任主任,复旦大学俄...
严立新
严立新
复旦大学国际金融学院教授,中国反洗钱研究中心执行主任,陆家嘴金...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
华东政法大学刑法学教授,复旦大学中国反洗钱研究中心特聘研究员,荷...
李小杰
李小杰
安永金融服务风险管理、咨询总监,曾任蚂蚁金服反洗钱总监,复旦大学...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
武汉中南财经政法大学信息安全学院教授。长期专注于反洗钱/反恐...
李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
顾卿华
顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任安永管理咨询服务合伙...
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上传时间: 2020-10-16      浏览次数:1131次
Anti-money laundering market to be valued at USD 1.99 bln by 2025


 

https://thepaypers.com/digital-identity-security-online-fraud/anti-money-laundering-market-to-be-valued-at-usd-199-bln-by-2025--1245164

 

Million Insights has revealed in a report that the global AML market size is projected to reach USD 1.99 billion by 2025, registering CAGR of 13.6% over the forecast period 2019 to 2025.

 

According to the press release, rising concerns regarding growing incidences of terrorism, corruption, and organised crimes have enforced the government to take concerted action. Therefore to meet these several compliance norms set by the government, enterprises are offering anti-money laundering and fraud detection solutions to control activities of corrupt individuals and cyber-criminals, and help reduce the concern of disguising or converting illegally gained funds as legitimate income. 

 

Moreover, due to the emergence of advanced technologies including online banking platform, Peer-to-Peer (P2P) money transfer, and online payment websites, there has been a rise in the number of e-transactions worldwide in the past few years. Although these developments have led to ease of transferring funds easily between two nodes, these have also created the vulnerabilities and various ways to transfer funds illegally that are more complex to identify or detect.  In addition, criminals are withdrawing and transferring money without an IP address with the use of proxy servers or anonymising software.

 

Hence, it is becoming very difficult to trace and detect money laundering activities. Consequently, in order to protect financial organisations and businesses from these threats, major countries are striving to ensure that financial and institutions comply with anti-money laundering requirements. 

 

Fintech and regulatory agencies are implementing several strategies like collaboration to enhance Customer Due Diligence (CDD) and Know Your Customer (KYC) platforms. Therefore, technologies including authentication through smartphones, biometrics, and behaviour analysis are projected to gain traction for anti money laundering (AML) market growth in the next few years. 

 

Further key findings from the report suggest: 

 

In 2018, software component held the largest market share of more than 62.0% in terms of revenue. 

 

Among product types, customer identity management accounted for the largest market share of more than 32.0% of the global revenue, in 2018. 

 

The cloud deployment type is projected to grow with the highest CAGR of 16.0% from 2019 to 2025.

 

In 2018, North America has dominated the market and accounted for over 48.0%, in terms of revenue.

 

NICE Actimize, Tata Consultancy Services Limited, Accenture, SAS Institute, and ACI Worldwide, are prominent players operating in this industry.