Anti-Money Laundering Solution Market Size, Share, Growth Analysis, By Type(Know Your Customer (KYC) Systems, Compliance Reporting, Transaction Monitoring System, Case Management), By Deployment Type(On-Premises, Cloud), By Region - Industry Forecast 2024-2031

Global Anti-Money Laundering Solution Market size was valued at USD 2.1 billion in 2019 and is poised to grow from USD 2.42 billion in 2023 to USD 8.13 billion by 2031, growing at a CAGR of 15.5% in the forecast period (2024-2031).

Anti-money laundering solutions allows banks and other financial institutions to use automated procedures to monitor client behavior for suspected criminal financial activity. Anti-money laundering software market includes many types of AML solutions such as transaction monitoring, currency transaction reporting, client identification management, and compliance management. The growth of global transactions has encouraged the adoption of anti-money laundering (AML) solutions by banks and other financial institutions.

Anti-money laundering software allows users to visualize, monitor, and resolve money laundering problems with ease. Strong data analysis, enhanced risk protection, faster processing, and improved efficiency in resolving these instances are all advantages of anti-money laundering systems. To combat terrorism funding and money laundering, several government entities around the world have passed legislation and laws. The Financial Action Task Force, an intergovernmental organization, assists governments in updating and developing anti-money laundering legislation. Anti-money laundering rules vary by country, thus financial institutions must ensure that their operations are consistent with the standards in place in the country where they operate. These rules assist financial institutions in developing a framework of procedures for preventing illicit money from entering their financial systems.

US Anti-Money Laundering Solution Market is poised to grow at a sustainable CAGR for the next forecast year.