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Global Anti-money Laundering Systems Market 2024-2028: Market Trends & Strategies

Publisher Juniper Research
Published Apr 03, 2024
Length 49 Pages
SKU # JNRH19878215

Description

This report examines the Anti-money Laundering Systems’ market landscape in detail; assessing market trends and factors shaping the evolution of this rapidly growing market. The report delivers comprehensive analysis of the strategic opportunities for AML systems providers; addressing challenges posed by the increase in online financial crimes and illicit activities, the development and revision of anti-money laundering laws across key regions, and an assessment of the many next‑generation technological approaches to detect suspicious transactions, anti-money laundering activities and the financing of terrorism.

Please note: the online download version of this report is for a global site license.

Table of Contents

49 Pages
1. Key Takeaways & Strategic Recommendations
1.1 Key Takeaways
1.2 Strategic Recommendations
2. Market Landscape
2.1 Introduction
2.1.1 The History of Anti-money Laundering
2.1.2 The Current Landscape
i. AML
Figure 2.1: Global Spend on Third-party AML Systems ($), Split by Region, 2024-
Figure 2.2: Anti-money Laundering Systems Market Landscape
Figure 2.3: Factors Determining Customers Potential Risk Level
ii. KYC
Figure 2.4: AML Umbrella
iii. KYB
Figure 2.5: Know Your Business Requirements
2.1.3 Transaction Screening
2.1.4 The Current Regulatory Framework
Figure 2.6: Dynamic AML Regulations across Juniper Research’s 8 Key Regions
i. National Strategy for Combating Illicit Financing and the Responsible Financial Innovation Act (US)
ii. The Responsible Financial Innovation Act (US)
iii. Responsible Development of Digital Assets Executive Order (US)
iv. 6t h Anti-money Laundering Directive (EU)
Figure 2.7: 6A LM 22 Predicate Offenses
v. 5t h Anti-money Laundering Directive (EU)
vi. Markets in Crypto Assets (EU)
vii. Law No. 6415 (Türkiye)
viii. Chinese Three-year Action Plan (China)
ix. The Prevention of Money Laundering 2002 (India)
x. MAS Notice 626 (Singapore)
xi. Guidance Rules for Digital Assets (UAE)
2.2 Drivers
2.2.1 Rising Levels of Online Crime and Money Mulling
Figure 2.8: Organised Crime Groups and Mule Networks Cycle
2.2.2 Regulatory Pressures
2.2.3 Costs to Businesses
Figure 2.9: Global Fines for AML and Related Issues Surge Post Crisis
2.3 Challenges with Adopting AML Systems
2.3.1 Rigid Processes
Figure 2.10: Financial Institutions Challenges
2.3.2 High Expectations of Regulators and Customers
2.3.3 Lack of In-house Expertise and Increasing Costs
3. Applying Criminal Behaviour to AML Technology
3.1 Money Laundering Definitions and Controls
Figure 3.1: Anti-money Laundering Controls
3.1.1 Money Laundering and Terrorist Funding Typologies
Figure 3.2: Illicit Industries’ Median Market Value ($bn)
Figure 3.3: Common Money Laundering and Terrorist Financing Typologies
i. Smurfing
ii. Money Muling
iii. Shell Corporations
iv. Trade-based Laundering
v. Bank Capture
vi. Cash-intensive Businesses
vii. Round-tipping
viii. Understanding Money Laundering Typologies
3.1.2 Money Laundering in the Digital Age
i. Cryptocurrencies
ii. Online Gaming and Gambling
iii. Proxy Servers and Anonymising Software
iv. Romance Fraud
v. Job Scamming
vi. Dark Web and Encryption
vii. Evolving Digital Techniques
3.2 Technological Infrastructure
3.2.1 Artificial Intelligence and Analytics
i. Generative AI
Figure 3.5: Generative AI AML Capabilities
ii. Behavioural Analytics
iii. Natural Language Processing
iv. Extract, Transform, Load
v. Predictive Analytics
3.2.2 DLT and Blockchain
Figure 3.6: Blockchain Use Cases for AML & KYC
Figure 3.7: Smartphone Biometrics
3.2.4 Cloud Computing
3.3 Assessment of AI
Figure 3.8: Americans Attitudes towards AI Use
Figure 3.9: Bias in AI
3.3.1 Conclusions
4. Segment Analysis: Industry Applications for AML Systems
4.1 Industry Applications for AML Systems
Figure 4.1: AML Systems 10 High-potential Industry Segments
4.1.1 Banking
i. Opportunities
ii. Challenges
4.1.2 Fintech
i. Opportunities
ii. Challenges
4.1.3 Gaming & Gambling
i. Opportunities
ii. Challenges
4.1.4 Insurance
i. Opportunities
ii. Challenges
4.1.5 Investment
i. Opportunities
ii. Challenges
4.1.6 Lending
i. Opportunities
ii. Challenges
4.1.7 Public Sector
i. Opportunities
ii. Challenges
4.1.8 Non-profit
i. Opportunities
ii. Challenges
4.1.9 Real Estate
i. Opportunities
ii. Challenges
4.1.10 Legal
i. Opportunities
ii. Challenges

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