Anti-money laundering market growth accelerates due to digital/mobile payments, with cloud-based software segments leading and the EU implementing an AML/CFT framework.

Anti-money laundering (AML) market growth accelerates due to the rise of digital and mobile payments, driving the need for new solutions designed specifically for these platforms. The software segment leads the market, and cloud-based AML solutions are expected to grow significantly due to their enhanced security measures. Large enterprises and the BFSI sector dominate the market, with the European Union implementing a comprehensive AML/CFT framework to combat money laundering and terrorism financing. The European Anti-Money Laundering Authority (AMLA) aims to create a unified European financial system and promote international collaboration, information sharing, and harmonized global responses to money laundering activities.

August 13, 2024
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