Anti-money Laundering Industry Overview

The global anti-money laundering market size was valued at USD 1.51 billion in 2023 and is expected to grow at a CAGR of 16.0% from 2024 to 2030.

The growth of the market is driven by increasingly stringent regulations and the need for financial institutions to comply with global standards. Regulatory bodies around the world, such as the Financial Action Task Force (FATF), have been intensifying efforts to combat money laundering and terrorist financing. This regulatory pressure compels financial institutions to adopt advanced anti-money laundering solutions to ensure compliance and avoid substantial penalties. As a result, the demand for robust anti-money laundering solutions has surged, leading to the continuous development and enhancement of technology-driven solutions in this sector. The growing complexity of financial crimes further emphasizes the need for sophisticated tools that can effectively monitor and analyze financial transactions.

Gather more insights about the market drivers, restrains and growth of the Anti-money Laundering Market

The significant growth in online businesses and electronic transactions in recent years has become a major driver of the anti-money laundering market. The rapid expansion of online marketplaces is largely due to the convenience they provide to consumers. Additionally, more financial institutions are introducing innovative online banking services and digital transaction options, which further propel the growth of online commerce. Factors such as digital advancements and the rising popularity of mobile payments are expected to accelerate the adoption of online transactions. Utilizing non-cash transactions helps organizations maintain transparency and effectively monitor any suspicious activities.

Technological advancements are playing a pivotal role in transforming the anti-money laundering landscape. The integration of Artificial Intelligence (AI), machine learning, and big data analytics into anti-money laundering solutions has enhanced the ability of organizations to detect suspicious activities with greater accuracy. These technologies enable financial institutions to analyze large volumes of data in real time, identify patterns, and predict potential risks more effectively. Additionally, automation of routine compliance tasks has reduced operational costs and the occurrence of human errors. This technological shift is driving the adoption of advanced anti-money laundering solutions across various industries, making them more efficient in combating financial crimes.

Digital transformation within the financial services sector has also contributed to the growing importance of anti-money laundering systems. For instance, as per the insights of Worldmetrics.org. in 2024, 67% of financial institutions consider digital transformation essential for their survival. As more transactions move online, the volume and complexity of financial activities have increased, creating new challenges for detecting and preventing money laundering. Additionally, the rise of digital banking, mobile payments, and cryptocurrencies has expanded the landscape in which financial crimes can occur. This evolution necessitates advanced anti-money laundering systems that can monitor and analyze digital transactions across multiple platforms and jurisdictions. Consequently, financial institutions are increasingly investing in cutting-edge AML technologies to stay ahead of evolving threats in the digital era.

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Anti-money Laundering Market Segmentation

Grand View Research has segmented the anti-money laundering market on the basis of on component, product, deployment, enterprise size, end-use, and region:

Anti-money Laundering Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software
• Services

Anti-money Laundering Product Outlook (Revenue, USD Million, 2018 - 2030)

• Compliance Management
• Currency Transaction Reporting
• Customer Identity Management
• Transaction Monitoring

Anti-money Laundering Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud
• On-premise

Anti-money Laundering Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Anti-money Laundering End-use Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI
• Government
• Healthcare
• IT & Telecom
• Others

Anti-money Laundering Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil 
• Middle East & Africa (MEA)
  • Kingdom of Saudi Arabia (KSA)
  • UAE
  • South Africa

Key Companies profiled:

• NICE Actimize
• Cognizant Technology Solutions Corporation
• Tata Consultancy Services Limited
• SAS Institute, Inc.
• ACI Worldwide, Inc.
• Oracle Corporation
• Fiserv, Inc.
• Accenture
• BAE Systems
• Experian Information Solutions, Inc.
• Open Text Corporation

Key Anti-money Laundering Company Insights

Businesses are primarily focusing on offering on-premise software solutions to enterprises owing to security-related benefits. Moreover, the on-premise anti-money laundering solutions help businesses enhance their security level and thereby improve the satisfaction level of their customers.

Product launches are the new strategies adopted by the market players to expand their anti-money laundering offerings. This has helped businesses to develop efficient products and expand their sales across different geographies. For instance, in June 2023, Google Cloud launched an AI-powered Anti Money Laundering (AML) product designed to help financial institutions detect money laundering efficiently. The AML AI system utilized machine learning to enhance risk detection, reduce operational costs, and improve compliance by minimizing false positives. HSBC, one of the early adopters, reported detecting 2-4 times more suspicious activities while reducing alert volumes by over 60%. The product was implemented across various global jurisdictions, offering benefits such as increased accuracy and reduced investigation time.

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