Educational News

TN engineering counselling to commence on July 3

Times of India_Education - 2 hours 39 min ago
The online engineering counselling for over 1.75 lakh government quota seats would commence from July 3 this year, according to the tentative schedule released by the state government on Sunday.
Categories: Educational News

AAP, SAD comes to support of University professors demanding exemption from poll duties

The teaching faculty of the Punjabi University who have been protesting against deputation on election duties during the general elections-2019 have now got a shot in the arm as the political parties including Aam Aadmi Party and Shiromani Akali Dal (SAD) had come to their support.
Categories: Educational News

Six medical college doctors become taekwondo Kukkiwon black belt holders

Five junior doctors and one faculty member of Nil Ratan Sircar Medical College and Hospital became the first batch of doctors to hold taekwondo Kukkiwon 1st Dan Black belt, the first for any government run medical college in the country.
Categories: Educational News

'Healthcare in India needs interdisciplinary approach'

Healthcare sector in India is the most complex system of operations and an interdisciplinary approach is needed to solve the complex issues, said Prabal Chakraborty, vice president and managing director of Boston Scientific India.
Categories: Educational News

TS Inter supplementary examination timetable 2019 released; check here

The supplementary theory examination will be begging from May 16, 2019 and to continue till May 27, 2019.
Categories: Educational News

Large number of teacher positions vacant in Delhi govt schools: Vijender Gupta

Senior Delhi BJP leader Vijender Gupta has claimed there are a large number of posts of regular Urdu and Punjabi teachers vacant in Delhi government schools.
Categories: Educational News

Teachers to create websites, provide study material

In a first, teachers at Devi Ahilya Vishwavidyalaya will be able to create their own websites listing out material that they teach in classrooms and constantly update it while replying to student queries.
Categories: Educational News

AP ICET hall ticket 2019 to be released today @; Check here

The Andhra Pradesh Integrated Common Entrance Test 2019 Admit Card will be released today, i.e., Friday, April 19, 2019.
Categories: Educational News

TN Board Results 2019 Live Updates: Tamil Nadu HSC result 2019 to be released soon @

Tamil Nadu HSC results 2019 will be declared today, April 19, 2019. The Directorate of Government Examinations Tamil Nadu (TNDGE) earlier had announced that the TN 12th result 2019 will be released on Friday, April 19, 2019, at around 9.30 AM.
Categories: Educational News

India Anti-Money Laundering (AML) Software Market to Reach $86.7 Million by 2023

Business sandesh - 19/04/2019

According to a new market intelligence report by BIS Research, titled ‘Global Anti-Money Laundering (AML) Software Market – Analysis and Forecast, 2018-2023‘, the global anti-money laundering software market was estimated at $868.0 million in 2017 and is expected to reach $1.77 billion by 2023. It is estimated that the AML software market in India, which accounted for approximately 4.09% of the global market in 2017, will reach $86.7 million by 2023, growing at a CAGR of 15.71% during the forecast period (2018-2023).

Browse 52 market Data Tables and 104 Figures spread through 220 Pages and in-depth TOC on Global AML Software Market

The growth in the AML software market in India can be significantly attributed to the factors such as regulatory compliance requirements of financial institutions with international regulatory bodies along with increased volume of wired transactions. Money laundering has been a key concern since the early 90s and it continues to be a significant challenge for economies across the globe.

Over the past decade, significant threats of terrorism due to the act of money laundering have become a major concern for regulatory bodies (outside India) such as Financial Crimes Enforcement Network (FinCEN) and Financial Action Task Force (FATF). Money laundering is the process of showing illegally acquired money to appear as legal. The act of money laundering generally involves three steps that are placement, layering, and integration.

India, with an AML index score of 5.28, ranks 68th in the list of 129 countries provided by the Basel Institute of Governance, which is an independent non-profit competence centre working to strengthen quality of governance, counter corruption and other financial crimes. The risk score is based on 14 indicators and provide an indication of the countries that are complying with the regulations and have least number of financial frauds. The score 1 is considered as the best score and implies that the country is complying with the standards and has witnessed the least number of frauds.

BIS Research Report:

Prevention of Money Laundering Act, 2002 came into existence in 2005, due to persistent problems with money laundering activities that the country had been facing despite India having one of the robust anti-money laundering systems. The government of India ensures that the financial institutions comply with the foreign-exchange laws, transaction reporting requirements, and KYC norms. The government has taken measures such as the demonetization in 2016 targeting the shell companies in the country to curb the money laundering activities in India. Such initiatives by the government are expected to play a major role in defining the future of money laundering in India.

In the Hawala method, a common money laundering method in India, an individual can access or transfer money from one location to another without the involvement of an authorized person. Also, the Hawala method of transferring money occurs at different foreign exchange rates, as stated by the Reserve Bank of India (RBI). The key features of this system include transferring value without moving funds. India has always been a target of several terrorist groups and these groups launder money using Hawala.

The most common methods for laundering money in the financial institutions have been opening multiple bank accounts, purchasing bank checks with cash, and routing funds through complex legal structures. India had 9,600,000 currency transaction reports registered in 2013-2014.

According to Yash Agrawal, Analyst at BIS Research, “The adoption of analytics and machine learning in AML is increasing the adoption of anti-money laundering software in crypto currency market and emerging economies. Robotic Process Automation (RPA) in AML along with KYC are the major factors which are expected to create lucrative opportunities for the market in the next five years. The market is packed with advancements in anti-money laundering systems, in order to promote digital currency activities. Additionally, cloud-based solutions are expected to witness a significant growth during the forecast period, owing to the lower cost of implementation than that in the on-premise deployment models.”

Request for a Sample:

The market report provides a detailed analysis of the trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary, and SWOT analysis. The overall market has been segmented by software type along with deployment type.

The report also includes a comprehensive section on the geographical analysis which has been segmented into four major regions, namely, North America, Europe, Asia-Pacific and Rest-of-the-World (RoW). The key companies offering AML software solutions in India include Infrasoft Technologies Ltd., 3i Infotech, and Surya Software Systems Private Limited, among others apart from global key vendors such as Oracle Corporation, NICE Actimize, and SAS Institute Inc.

Key Questions Answered in the Report

  • What was the revenue generated by the global AML software market in 2017 and what will be the estimates by 2023?
  • Which software type, such as transaction monitoring software and currency transaction reporting software are expected to dominate the AML market in the coming years?
  • Which deployment model, such as on-premise or cloud-based, is adopted in the current market and what is the future outlook?
  • What are the new strategies adopted by the existing market players to make a mark in the industry?
  • What are the major driving forces that tend to increase the demand for the global AML software market during the forecast period, 2018-2023?
  • What are the major market drivers, challenges, and opportunities in the global AML software market?
  • Which region is expected to dominate the global AML software market during the forecast period, 2018-2023?
  • What are the major factors inhibiting the growth of the AML software market?
  • What is the consumer outlook and challenges for the AML software market?
  • Who are the key market players in India and what is the market share in 2017?
  • What is the supply chain for the global AML software market?
Categories: Educational News


Subscribe to Shree Sarvajanik Kelavani Mandal aggregator - Educational News