How Anti-Money Laundering Software are Preventing Financial Fraud Defense & Security 

How Anti-Money Laundering Software are Preventing Financial Fraud?

As per United Nations Office on Drugs and Crime (UNDOC), the amount of money laundered internationally in a year is believed to be between 2 and 5% of global GDP or $800 billion and $2 trillion in today’s dollars. The overall quantity of money that goes through the laundering cycle is impossible to measure due to the anonymous nature of money laundering. Technology plays an essential role in finding the frauds. There are multiple anti-money laundering software available to track the laundering transactions. Anti-money laundering or AML software ¬†employs technology…

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Anti-Money Laundering Software Defense & Security 

Anti-Money Laundering Software Plays an Important Role in Detecting and Preventing Financial Crimes

Anti-money laundering (AML) software utilizes technology to support legal and financial institutions in meeting legal requirements set by financial authorities. It monitors possibly fraudulent behavior in government networks and huge financial organizations. According to BIS Research’s anti-money laundering software industry analysis, the market will develop at a substantial CAGR of 14.12 percent in terms of value from 2020 to 2025. The financial service industry has observed far-reaching technology-driven revolutions in the last five years, with corporations aiming to improve the efficiency of their financial departments by using innovative IT solutions.…

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