Global Anti-Money Laundering Market

Anti-Money Laundering Market Size, Share, Growth Analysis, By Component (Software, Services), By Product (Transaction Monitoring, Customer Identity Management), By End Use (BFSI, Government), By Region -Industry Forecast 2025-2032


Report ID: SQMIG45D2123 | Region: Global | Published Date: February, 2025
Pages: 194 | Tables: 91 | Figures: 71

Anti-Money Laundering Market News

  • In September 2024, Tech Mahindra Limited, a global frontrunner in technology consulting, partnered with Discai, a BankTech subdivision of KBC Group, to unveil an AI-based top-notch Anti-Money Laundering (AML) solution. This deal will combine the technical knowledge of Tech Mahindra with AML technology that is AI-based and rule-based by Discai, to monitor, regulate all transactions, and lead regulatory compliance. “Know Your Transaction” Anti-Money Laundering has been bestowed a suited authority in arousing and curbing financial crimes.
  • In October 2023, WorkFusion launched a new AI solution, Isaac, designed to enhance AML transaction monitoring by automating the first-level alert-review process. Isaac uses artificial intelligence to evaluate alerts, auto-escalate those that require further investigation and close non-suspicious alerts with supporting documentation. This innovation provides huge assistance to AML analysts, allowing them to concentrate on high-risk activities.
  • In June 2023, Google Cloud announced an AI-powered Anti Money Laundering (AML) product to assist financial institutions with detecting money laundering efficiently. The AML AI system uses machine learning for better risk detection, lower operational costs, and better compliance through reduced false positives. Among the early adopters, HSBC noted detection of two-four times more suspicious activities while cutting alert volumes by over 60%. This was then rolled out across several geographies across the globe, ensuring accuracy and a lot of timesaving during investigation.
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FAQs

Global Anti-Money Laundering market size was valued at USD 1.50 Billion in 2023 and is poised to grow from USD 1.74 Billion in 2024 to USD 5.78 Billion by 2032, growing at a CAGR of 16.2% in the forecast period (2025-2032).

The major players in the competitive anti-money laundering (AML) market include NICE Actimize, FICO, SAS Institute, ACI Worldwide, and LexisNexis Risk Solutions. Due to some constraints in the market, these companies are deploying solutions driven by artificial intelligence for transaction monitoring, real-time operational management, and regulatory compliance. Evolving fintech firms, along with regtech startups, also compete based on innovative technologies that enable optimized competition and performance across the business. Companies are starting strategic partnerships, mergers, and acquisitions to expand globally with enhanced AML capabilities. 'NICE Actimize', 'FICO (Fair Isaac Corporation)', 'SAS Institute', 'ACI Worldwide', 'LexisNexis Risk Solutions', 'Refinitiv (A London Stock Exchange Group Business)', 'BAE Systems Applied Intelligence', 'Oracle Financial Services', 'Fiserv, Inc.', 'Temenos', 'ComplyAdvantage', 'Featurespace', 'Feedzai', 'Quantaverse', 'Actico'

Financial institutions and governments are increasingly being forced to strictly comply with strong anti-money laundering (AML) regulations. There is stringent enforcement of stronger anti-money laundering (AML) regulations by bodies such as the European Commission, FATF, and FinCEN, making businesses and other institutions comply effectively with AML solutions. There is a pressing need for all financial institutions in the world to invest in AML software and compliance programs in light of heavy penalties and loss of reputation upon non-compliance.

Integration of AI and Machine Learning in AML Compliance: AI-based anti-money laundering solutions are helping banks go deeper and get more precise fraud-detection. Many machine-learning algorithms analyze very large data sets to spotlight suspicious transactions, thereby reducing the rate of false positives. It enables quicker actions taken against threats coming from financial crimes while demolishing manual interventions in a streamlining way for those processes of AML subject to automation within AI synergies.

The North American anti-money laundering industry is the most substantial market, accounted for about 33.0% in 2024. North America represents the largest market, attributed to its strong regulatory framework and robust enforcement of anti-money laundering provisions. The region has some best-rated kinds of financial institutions which have to follow highly thorough and multifaceted compliance mechanisms, thus creating an opportunity for advanced anti-money laundering solutions. Furthermore, North America makes significant investments in cutting-edge technologies, such as AI and machine learning, which are components of contemporary anti-money laundering systems. In addition to the presence of established financial hubs, due to increased financial transactions volume, the region leverages its dominance in the anti-money laundering market.

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Global Anti-Money Laundering Market

Report ID: SQMIG45D2123

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