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Global Anti-Money Laundering (AML) Market Size Expected to Reach USD 7.7 Billion by 2030, Witnessing 15.5% CAGR Growth: Polaris Market ResearchNEW YORK, Dec. 1, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Anti-money Laundering Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Service; By End-use; By Region; Segment Forecast, 2022-2030" in its research database.
What is Anti-Money Laundering (AML)? How Big is Anti-Money Laundering (AML) Market Size?
Anti-money laundering refers to the policies, laws, and regulations to stop criminals' illegal activity. AML is becoming essential for financial service providers. The main purpose of anti-money laundering is to detect and report suspicious activity of terrorists, such as securities fraud and market manipulation. Companies worldwide must comply with guidelines enforced by global and local regulators in order to prevent financial crimes and minimize their damage. The primary users of AML are banks and other financial institutions, as they are at higher risk of money laundering. AML regulations involve collecting customer information, tracking and screening their transactions, and inform about suspicious activity to financial regulatory authorities. Rise in instances of money laundering globally, driving the growth of the anti-money laundering market. Request Sample Copy of "Anti-Money Laundering (AML) Market" Research Report @ https://www.polarismarketresearch.com/industry-analysis/anti-money-laundering-market/request-for-sample Highlights of The Report:
Some of the Top Market Players Are:
For Additional List of Players and Detail Information, Download a Report PDF Brochure Growth Driving Factors
The growing adoption of cloud-based AML solutions due to their low-cost nature is fueling the anti-money laundering market size. Various benefits of anti-money laundering solutions, including strong data analysis, enhanced processing, better risk protection improved efficiency in resolving these cases, are expected to propel the anti-money laundering industry growth. Increasing number of frauds and corruption in organizations which are leading to payment disruption, money laundering, and degradation of services, is driving the demand for anti-money laundering. Moreover, increasing cases of financial crime because of terrorists, drug trafficking, arms trafficking, blackmailing, credit card scams, etc. is anticipated to flourish the anti-money laundering market sales. Also, the necessity to analyze suspicious activity and financial crimes boost the industry's growth. Stringent government policies across the world to prevent money laundering incidences positively influences the AML software market growth. Directly Purchase a copy of report with TOC @ https://www.polarismarketresearch.com/checkouts/18061 Recent Developments In January 2022, Oracle announced that to the cloud-based platform the "Arachnys" would be available to strengthen and integrate it with "Oracle's Financial Services Financial Crime and Compliance Management" solution suite. Segmental Analysis
Based on component, the software segment held the highest revenue share in 2021. Anti-money laundering software enables organizations to ensure that legal policies introduced by the government are met. The rapid technology developments help money launderers form new strategies to reach the systems. This software has the potential to prevent and detect financial crimes. In addition, an anti-money laundering software system can speed up the customer onboarding process.
Based on product, the transaction category held the highest anti-money laundering market share in 2021 and is expected to maintain its dominance over the forecast period. This is because, with anti-money transaction monitoring software, financial enterprises can conduct customer transactions in real time. For instance, as per a report by FISCO, annually, about 370 billion financial transactions are made across the globe. To monitor AML transactions, best practices, typologies, and an in-depth understanding of financial crime are required. Request for a Discount on this Report Before Purchase @ https://www.polarismarketresearch.com/industry-analysis/anti-money-laundering-market/request-for-discount-pricing Anti-Money Laundering (AML) Market: Report Scope & Analysis
Based on geography, North America accounted for the highest revenue share in 2021, owing to the presence of leading players in the region. Also, anti-money laundering solutions are expected to experience high adoption in upcoming years due to the availability of many institutions in the area. Moreover, the expected development of inorganic strategies to integrate artificial intelligence among anti-money laundering providers is likely to boost the anti-money laundering industry growth in the region. Particular anti-money laundering guidelines imposed under the Anti-Money Laundering Act of 2020 by the US Congress drive the preference for anti-money laundering solutions across the nation, which is expected to fuel the regional market development. Browse the Detail Report "Anti-money Laundering Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Service; By End-use; By Region; Segment Forecast, 2022-2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/anti-money-laundering-market For Additional Information OR Media Enquiry, Please Mail At: [email protected] Polaris Market Research has segmented the Anti-Money Laundering Market report based on component, product type, end-use, and region: By Component Outlook
By Product Outlook
By End-use Outlook
By Region Outlook
About Polaris Market Research Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers. Contact: Likhil G Logo: https://mma.prnewswire.com/media/1316207/Polaris_Market_Research_Logo.jpg View original content:https://www.prnewswire.com/news-releases/global-anti-money-laundering-aml-market-size-expected-to-reach-usd-7-7-billion-by-2030--witnessing-15-5-cagr-growth-polaris-market-research-301691421.html SOURCE Polaris Market Research |