India's Banking Finance Services and Insurance (BFSI) sector sees a hiring boom in fraud, KYC, and compliance roles

India’s Banking Finance Services and Insurance (BFSI) sector is experiencing robust growth in Financial Crime (FinCrime) hiring, with the talent pool expanding to over 25,500 professionals, according to Careernet’s July 2025 report. This surge is driven by evolving global compliance frameworks set by bodies such as the Financial Action Task Force (FATF) and the Office of Foreign Assets Control (OFAC). Global Capability Centres (GCCs), Indian banks, and consulting firms are actively investing in specialised FinCrime teams to strengthen defences against fraud, corruption, and money laundering. Bengaluru leads India’s FinCrime landscape, accounting for 32% of the talent pool, followed by Delhi-NCR and Hyderabad at 17% each. Chennai (12%), Mumbai (7%), and Pune (6%) follow. While Bengaluru dominates across mid- and senior-level experience bands, Chennai shows greater senior-level presence, and Hyderabad is evenly represented.
Know Your Customer (KYC), Customer Due Diligence (CDD), and monitoring functions account for 58% of India’s FinCrime workforce. Fraud control and regulatory compliance roles make up 22%, while sanctions-related roles comprise the remaining 20%. Offshoring operations dominate hiring at 36%, with Gulf Cooperation Council (GCC) banks following at 25%. Indian banks and financial services firms each contribute 11%, while Big-4 firms and consultancies account for 10%. Notably, mid-level roles show better gender parity, especially in GCCs and consulting firms. Specialised hiring is on the rise, with sanctions experts concentrated in GCC banks and fraud control roles clustering in Bengaluru. With the complexity of economic crimes increasing globally, India’s cost-effective and scalable FinCrime talent base is becoming a strategic asset for global firms.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.