Anti-Money Laundering (AML) in Global Transaction Banking: Costs vs. Effectiveness in the Indian Context
Adhiita Consultancy ServicesBankingProject Objectives:
Anti-Money Laundering (AML) compliance costs for Indian banks surged to ₹12,000+ crores annually (RBI 2023), yet fraud cases rose by 22% (FICCI 2024). This report examines
Cost drivers: KYC processes, AI surveillance tech, and regulatory fines.
Effectiveness gaps: Only 35% of SARs (Suspicious Activity Reports) lead to convictions (ED data).
Indian innovations: Aadhaar-based e-KYC, AI-powered transaction monitoring.
Using RBI audits, bank case studies (HDFC, Paytm Payments Bank), and global benchmarks, the study proposes a cost-optimized AML framework for India’s transaction banking sector.
Project Tasks:
Map AML costs for a mid-sized private bank (e.g., IDFC First).
Analyse ED’s conviction rate for bank frauds (2019–24).
Design an AI-based transaction monitoring workflow.
Analyse: Should India adopt "risk-based AML" like Singapore?
Educational Qualifications
B.ScB.ComBBAM.ComMBA
Required Skills
Problem-Solving SkillsCritical ThinkingResearch & Data AnalysisUnderstanding Of Financial SystemsTech Awareness (Especially Ai & Automation)
