Anti-Money Laundering Market Size Worth $1.99 Billion By 2025 “The global anti-money laundering market size is projected to reach USD 1.99 billion by 2025 and registering CAGR of 13.6% over the forecast period 2019 to 2025.”
The global anti-money laundering market size is projected to reach USD 1.99 billion by 2025 and registering CAGR of 13.6% over the forecast period 2019 to 2025. The prevention and detection of money laundering have strengthened by incorporating law enforcement activities; thereby, corrupt individuals and criminals are taking extensive care to hide the sources of their illegal wealth. Rising concerns regarding growing incidences of terrorism, corruption and organized crimes, and its negative impact on security, peace and development of countries across the globe have enforced the government to take concerted action. Therefore to meet these several compliance norms set by the government, enterprises are extensively offering antimoney laundering and fraud detection solutions. These solutions are projected to establish procedures to control activities of corrupt individuals and cyber-criminals and helps reduce the concern of disguising or converting illegally gained funds as legitimate income. AML solutions aid the government to mitigate the risk of anonymity in fund transfer and transactions that enable money laundering activities. This solution reduces the cash-based activities like human smuggling & trafficking, illegal retail transactions and drug trafficking. In addition, AML solution helps to reduce the risk of threats in cross-border transactions and the corruption of virtual currency. It also curbs the activities like Distributed Denial-Of-Service (DDoS), malware attacks and ransomware.
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