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Global Anti-Money Laundering Software Market - Analysis, Technologies & Forecasts to 2021 - Increased Need for Automated Transaction Monitoring Systems - Research and Markets

[June 28, 2017]

Global Anti-Money Laundering Software Market - Analysis, Technologies & Forecasts to 2021 - Increased Need for Automated Transaction Monitoring Systems - Research and Markets

Research and Markets has announced the addition of the "Global Anti-Money Laundering Software Market 2017-2021" report to their offering.

The global anti money laundering software market to grow at a CAGR of 11.07% during the period 2017-2021.

The report, Global Anti Money Laundering Software Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

According to the report, one driver in market is increased need for suspicious activity reporting. SAR is a process of creating a report with information that alerts law enforcement if a certain customer transaction activity is possibly suspicious and might indicate money laundering or terrorist financing. SAR has become an essential part to fight terrorist financing, money laundering,and other financial crimes. The reason for SAR being used is that it is not possible for a bank to detect and report all possible illicit transactions that flow through the bank. SAR provides information on potential criminality and helps banks to manage complexities that arise due to the regulations and high costs associated with AML initiatives. Hence, it is essential for the quality of SAR content to be good for an effective SAR operation.

Key vendors