According to the research report titled ‘Global Anti Money Laundering Market Size study, by Product (Compliance Management Currency Transaction Reporting, Customer Identity Management, Transaction Monitoring) By Deployment ( Cloud, On-Premise) End Use(BFSI, Government, Healthcare, IT & Telecom, Other ) and Regional Forecasts 2020-2027’, available with Market Study Report, global anti money laundering market was evaluated at USD 0.87 billion in 2019 and is speculated to reach USD 2.77 billion by 2027, growing at an annual rate of 15.6% between 2020-2027.
 

Increase in number of financial frauds, focus on transaction monitoring, and use of Know Your Customer (KYC) policies by financial institutions are key factors stimulating global anti money laundering market expansion.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3611178/
 

According to the United Nations Office on Drugs and Crime (UNODC), 2-5% of the global GDP is laundered annually which accounts to USD 800 billion to USD 2 trillion approximately. Furthermore, as per the data by Indian government, USD 18 billion is laundered annually from the country.
 

For the unversed, anti money laundering involves the use of certain technologies and tools to stop criminals from generating income by gaining access to illegal funds by means of complex or commercial transactions. 
 

Frail anti money laundering policies along with rising demand for robust solutions, and proliferating use of machine learning, artificial intelligence, and big data technologies will boost industry growth in the analysis period.
 

On the other hand, inability to detect fraudulent activities and high complexity of software will hinder global anti money laundering market expansion.
 

Based on product gamut, worldwide anti money laundering industry is divided into compliance management, currency transaction reporting, customer identity management, and transaction monitoring. Speaking of deployment, the market space is bifurcated into cloud, and on-premise. Moving on to end user spectrum, the business sphere is segregated into government, BFSI, healthcare, IT & telecom among others.
 

Geographically speaking, Europe held majority of the global anti money laundering industry share in the recent past, due to rising adoption of software programs developed using machine learning (ML) and artificial intelligence (AI). Meanwhile, Asia Pacific market is projected to grow rapidly through 2027, owing to increasing number of frauds related to credit cards and banks.
 

Key players shaping worldwide anti money laundering market trends are NICE Actimize, BAE Systems plc, Fiserv Inc., Tata Consultancy Services Limited, Oracle Corporation, ACI Worldwide Inc., Trulioo, Accenture plc, Cognizant Technology Solutions Corporation, and SAS Institute Inc.