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India's BFSI sector sees hiring boom in fraud, KYC and compliance roles

As financial regulations tighten globally, India's banking and financial services (BFSI) sector is witnessing a steady rise in demand for professionals in financial crime (FinCrime) roles. According to a July 2025 report by talent solutions provider firm Careernet, India now hosts an active FinCrime talent pool of 25,543 professionals, with skills spanning anti-money laundering, sanctions compliance, and fraud prevention. This demand stems largely from global compliance requirements, including those driven by regulatory bodies such as the Financial Action Task Force (FATF) and the Office of Foreign Assets Control (OFAC), the report mentioned. Meanwhile, Global Capability Centres (GCCs) and Indian banks are investing in teams to strengthen their defences against fraud, corruption, and illicit financial activity. Which cities dominate India's FinCrime talent market? Bengaluru remains the largest Financial Crime (FinCrime) talent hub in the country, accounting for nearly one-third (32 per cent) of the active workforce. Delhi-NCR and Hyderabad follow with 17 per cent each. Chennai contributes 12 per cent, while Mumbai and Pune account for 7 per cent and 6 per cent respectively. The remaining 9 per cent of talent is spread across Tier-II and smaller cities, the Careernet report noted. City-wise trends vary by experience. Bengaluru leads across both mid-level (3–10 years) and senior (10–20 years) experience bands. Delhi-NCR holds a strong position in the mid-level segment, while Chennai saw greater representation at the senior level. Hyderabad shows balanced growth in both bands. What roles make up the FinCrime workforce? The largest portion of the FinCrime workforce (58 per cent) is engaged in Know Your Customer (KYC), Customer Due Diligence (CDD), and monitoring activities. These roles support customer onboarding, risk assessment, and anti-money laundering compliance. Jobs related to Fraud Control and Regulatory Compliance accounts for 22 per cent of the BFSI workforce, while sanctions-focused roles make up the remaining 20 per cent. These roles are more specialised, involving global sanctions screening and escalation management. Which sectors are driving hiring in FinCrime? Offshoring operations make up the largest share of FinCrime talent at 36 per cent, especially in mid-level roles. GCC banks follow with 25 per cent, offering the deepest bench at senior levels. Indian banks and financial services firms contribute 11 per cent each, while Big-4 and consulting firms account for 10 per cent. The remaining 7 per cent includes professionals from NBFCs, fintech companies, small finance banks, and BPOs. 'India is becoming central to how global organisations build FinCrime capabilities, thanks to our extensive talent pool, deep domain expertise, and the ability to scale cost-effectively. Nearly half of all organisations are impacted by financial or economic fraud every year, and the nature of these threats is only becoming more complex,' said Neelabh Shukla, chief business officer, Careernet. What does gender representation look like in FinCrime roles? While mid-level FinCrime roles (3–10 years) showed higher gender diversity across sectors, particularly within GCCs, offshoring units, and consulting firms, female representation drops notably at the senior level (10–20 years). Financial services and Big 4 firms continue to show stronger gender parity at leadership levels compared to other sectors, the report said. What are the emerging trends in India's FinCrime landscape? The Careernet report also indicated a shift in hiring trends towards specialised compliance expertise. Sanctions professionals are heavily concentrated within GCC banks, while Fraud Control specialists are mostly based in Bengaluru. With growing demand for regulatory alignment and operational transparency, FinCrime hiring is expected to remain steady across metros and key industry verticals.