Business Finance

Financial Crime and Fraud Management Solutions Market to Reach ~ US$ 1.5 Bn by 2027

Financial Crime and Fraud Management Solutions Market in Brief

  • The financial crime and fraud management solutions market is expected to register a CAGR of ~ 4% between 2019 and 2027. The market is projected to be driven by the rising number of financial fraud cases, globally.
  • The global financial crime and fraud management solutions market is expected to reach ~ US$ 1.5 Bn by 2027, from ~ US$ 1.1 Bn in 2019. Stringent government regulations for financial data privacy are boosting the financial crime and fraud management solutions market.
  • The financial crime and fraud management solutions market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, followed by Europe.
  • North America remains the dominant leader in the global financial crime and fraud management solutions market, with revenues in 2019 estimated at ~ US$ 690 Mn. Increasing number of bank account holders is expected to exponentially drive the financial crime and fraud management solutions market.
  • Asia Pacific is projected to see high growth in the global financial crime and fraud management solutions market during the forecast period. This is due to drastic financial inclusion as well as rise in financial cybercrimes in this region.

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Financial Crime and Fraud Management Solutions Market: Definition

  • The financial crime and fraud management solutions market report provides analysis of the global financial crime and fraud management solutions market for the period of 2017–2027, wherein, 2018 is the base year, and 2019 to 2027 is the forecast period. Data for 2017 has been included as historical information.
  • In this report, we analyze the growth drivers that are enhancing the value of the financial crime and fraud management solutions market, and how financial organizations can reduce and measure the risks related to liquidity and asset and liabilities portfolios. Moreover, strict government regulations as well as concerns over financial loss have increased the need for financial crime and fraud management solutions.
  • Organizations are adopting and updating financial crime and fraud management solutions rapidly due to their numerous benefits such as elimination of money laundering, secrecy of information security, and analyzing threats faster.

Asia Pacific Financial Crime and Fraud Management Solutions Market: Snapshot

Asia Pacific is one of the fastest growing regions, as it holds more than half of the world’s population, and has experienced a drastic increase in foreign investments, which has led to the increase in security of financial instruments as well as financial information to prevent frauds and crimes. The role of financial crime and fraud management has increased to investigate exceptions in financial transactions faster, and to manage real-time financial threat detection, which enables banks and other financial institutions prevent the risk of unusual financial losses due to fraud.

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Key Growth Drivers of the Financial Crime and Fraud Management Solutions Market

  • Increase in Number of Financial Fraud Cases –Risks related to financial data breach and unauthorized purchase has driven the demand for financial crime and fraud management solutions to prevent such risks. Increase in financial fraud is driving the demand for financial crime and fraud management solutions so that the data, financial information, and financial instruments of the general public are held securely.
  • Stringent Government Regulations for Financial Data Privacy –Rise in losses due to fraud payments and unauthorized access to public financial accounts has led the governments of many nations to establish strict rules and regulations to prevent financial fraud and financial crime. This has pushed the financial industry to adopt methods or solutions to prevent these occurrences.

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