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One-third of Indias active FinCrime talent pool is based in Bengaluru: Report
One-third of Indias active FinCrime talent pool is based in Bengaluru: Report

Mint

time11 hours ago

  • Business
  • Mint

One-third of Indias active FinCrime talent pool is based in Bengaluru: Report

Mumbai, Jul 23 (PTI) Bengaluru, which contributes nearly one-third of the financial crime (FinCrime) analyst talent pool, has emerged as India's preferred destination for organisations seeking to strengthen their risk management, compliance, and fraud prevention capabilities, a report said on Wednesday. Bengaluru leads across mid and senior experience bands, the report, FinCrime Talent Pulse: India's Workforce Trends, by Careernet stated. Bengaluru stands out as the leading destination, contributing nearly one-third (32 per cent) of the national active talent pool, the report said. Delhi NCR and Hyderabad follow with 17 per cent each, while Chennai (12 per cent) and Mumbai (7 per cent) rank among the top five. However, Mumbai showed a higher presence of an active talent pool at senior levels, indicating increased demand for experienced professionals. An additional 9 per cent of the talent pool is distributed across tier II and emerging cities, signalling a broader national footprint for FinCrime talent, added the report. "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," Careernet Chief Business Officer Neelabh Shukla said. The FinCrime Talent Pulse: India's Workforce Trends, report is based on an analysis of over 25,500 active job seekers across key domains like KYC, Sanctions, and Fraud Control and Regulatory Compliance, spanning five major sectors, including GCC banks, Indian banks, consulting, financial services, and offshoring. The report further revealed that skill-distribution data showed that 58 per cent of the active FinCrime workforce is engaged in KYC, Customer Due Diligence (CDD), and Monitoring functions, underlining the industry's continued focus on onboarding compliance, risk mitigation, and AML (Anti-Money Laundering) checks. Meanwhile, 22 per cent of the active FinCrime talent pool work in Fraud Control and Regulatory Compliance, and the remaining 20 per cent specialised in sanction-related roles, indicating a growing concentration of specialised talent in high-risk areas such as global sanctions screening, transaction monitoring, and escalation management. In terms of industry segments, offshoring firms account for 36 per cent of the total FinCrime workforce, predominantly at the mid-level, said the report. GCC banks contribute 25 per cent, offering the strongest talent pool at the senior level, it stated. Indian banks and financial services firms each account for 11 per cent, while Big 4 and consulting firms contribute 10 per cent, providing advisory and transformation talent.

One-third of Indias active FinCrime talent pool is based in Bengaluru: Report
One-third of Indias active FinCrime talent pool is based in Bengaluru: Report

News18

time11 hours ago

  • Business
  • News18

One-third of Indias active FinCrime talent pool is based in Bengaluru: Report

Last Updated: Mumbai, Jul 23 (PTI) Bengaluru, which contributes nearly one-third of the financial crime (FinCrime) analyst talent pool, has emerged as India's preferred destination for organisations seeking to strengthen their risk management, compliance, and fraud prevention capabilities, a report said on Wednesday. Bengaluru leads across mid and senior experience bands, the report, FinCrime Talent Pulse: India's Workforce Trends, by Careernet stated. Bengaluru stands out as the leading destination, contributing nearly one-third (32 per cent) of the national active talent pool, the report said. Delhi NCR and Hyderabad follow with 17 per cent each, while Chennai (12 per cent) and Mumbai (7 per cent) rank among the top five. However, Mumbai showed a higher presence of an active talent pool at senior levels, indicating increased demand for experienced professionals. An additional 9 per cent of the talent pool is distributed across tier II and emerging cities, signalling a broader national footprint for FinCrime talent, added the report. '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," Careernet Chief Business Officer Neelabh Shukla said. The FinCrime Talent Pulse: India's Workforce Trends, report is based on an analysis of over 25,500 active job seekers across key domains like KYC, Sanctions, and Fraud Control and Regulatory Compliance, spanning five major sectors, including GCC banks, Indian banks, consulting, financial services, and offshoring. The report further revealed that skill-distribution data showed that 58 per cent of the active FinCrime workforce is engaged in KYC, Customer Due Diligence (CDD), and Monitoring functions, underlining the industry's continued focus on onboarding compliance, risk mitigation, and AML (Anti-Money Laundering) checks. Meanwhile, 22 per cent of the active FinCrime talent pool work in Fraud Control and Regulatory Compliance, and the remaining 20 per cent specialised in sanction-related roles, indicating a growing concentration of specialised talent in high-risk areas such as global sanctions screening, transaction monitoring, and escalation management. In terms of industry segments, offshoring firms account for 36 per cent of the total FinCrime workforce, predominantly at the mid-level, said the report. GCC banks contribute 25 per cent, offering the strongest talent pool at the senior level, it stated. Indian banks and financial services firms each account for 11 per cent, while Big 4 and consulting firms contribute 10 per cent, providing advisory and transformation talent. PTI SM MR MR view comments First Published: July 23, 2025, 17:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

India's IT/ITes sector flexi workforce to reach 900K by 2030: Careernet
India's IT/ITes sector flexi workforce to reach 900K by 2030: Careernet

Business Standard

time18-06-2025

  • Business
  • Business Standard

India's IT/ITes sector flexi workforce to reach 900K by 2030: Careernet

Currently, India's IT/ITeS sector employs 3,90,000 flexi workforce, accounting for around 7 per cent of the total 5.8 million professionals in the sector, says Careernet report Press Trust of India Mumbai With India's IT and ITeS sector embracing flexible staffing as a core workforce strategy, a report on Wednesday revealed that the gig economy, which is growing at 15 per cent annually, will touch 9 lakh professionals by 2030. Currently, India's IT/ITeS sector employs 3,90,000 flexi workforce, accounting for around 7 per cent of the total 5.8 million professionals in the sector, talent solutions provider Careernet said in a report - "The Rise of Flexi Staffing: Outlook for India's IT/ITeS Talent Landscape". The report projected this number to more than double to 9,00,000 by 2030, growing at a 15 per cent Compound Annual Growth Rate (CAGR). The Careernet's 'Rise of Flexi Staffing: Outlook for India's IT/ITeS Talent Landscape' report is based on real-time hiring data, market research, and industry trends. "With India being a global offshoring hub, demand for flexi workers is expected to rise in the IT/ITeS sector. India's IT/ITeS flexi staffing segment is undergoing a structural realignment in workforce planning. Amid digital acceleration and global economic shifts, flexi staffing is being adopted as a model that supports speed, specialisation, and scalability," Careernet Chief Business Officer Neelabh Shukla said. For professionals, flexi roles offer career exploration, skill-building, and better work-life balance - key priorities for the millennial and Gen Z workforce, he added. Further, the report highlighted that Bengaluru led the country in flexi IT/ITeS hiring, accounting for 25 per cent of the workforce, followed by Hyderabad at 15 per cent. Other major cities, including Delhi NCR, Mumbai, Pune, and Chennai, each contribute approximately 10 per cent to the overall share, it stated. Interestingly, the report found that tier II and III cities are also witnessing growth, now comprising around 20 per cent of the flexi IT/ITeS workforce. This trend is driven by the availability of local talent and cost-effective business models, moreover, the decentralisation of talent hubs is enabling firms to expand more flexibly, without the constraints of high real estate and infrastructure costs, it noted. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Israel's war on Iran to hit Indian workforce
Israel's war on Iran to hit Indian workforce

Mint

time13-06-2025

  • Business
  • Mint

Israel's war on Iran to hit Indian workforce

Israel opening a warfront with Iran will impact workforce mobility from India to many parts of the Middle East. Recruitment companies with clients in the IT, energy, construction and retail sectors estimate a drop in demand for fresh workforce as the crisis escalates. Some manpower companies had calls from candidates on probable changes in joining dates and the hiring firms have held meetings since Friday. Mint has learnt that both blue and white-collared workforce who head to the region every year for opportunities will be reluctant to relocate to even bordering countries that are yet to face the heat. 'We currently have 35 executives from mid to senior management levels scheduled to join roles across Kuwait and other Middle Eastern countries. These positions are primarily within the energy sector, including oil field operations and a significant number of these professionals are US nationals," said Manish C., managing partner, Greentree Advisory Services. Also read: Javier Blas: An Israel-Iran war may not rattle the oil market The firm's clients are in the banking and energy sectors, amongst others. 'Since Friday, we have received several calls from candidates expressing concern, particularly those relocating with their families. The hiring companies have assured us that they are closely monitoring the situation and will keep all stakeholders informed," the managing partner told Mint. In the early hours of Friday, Israel attacked Iran's nuclear bases and called it Operation Rising Lion. Until now, the Middle East crisis has largely involved Israel's attack on Gaza. The external affairs ministry in its statement noted that it was 'monitoring the evolving situation, including reports related to attacks on nuclear sites". A steady stream of blue- and white-collar workers regularly head to countries like Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman, which share maritime borders with Iran. 'Our Missions in both countries are in contact with the Indian community. All Indian nationals in the region are advised to exercise caution, stay safe and follow local security advisories," the external affairs ministry said in a statement on its website. Also read: Escalating Israel-Iran conflict to keep markets on boil in near term 'We hire IT employees from India for the Middle East and also from Lebanon and Egypt for the Middle East region. We are focusing on this region extensively, but now if the war escalates and spreads to nearby areas, then our hiring gets impacted," said Anshuman Das, chief executive and co-founder of Careernet, a talent solutions provider. According to government data from July 2024, there are 92,58,302 skilled, semi-skilled and unskilled labourers from India employed in various sectors in the Middle-Eastern countries of Bahrain, Kuwait, Oman, Qatar, United Arab Emirates and Saudi Arabia. In fact, Israel too has recruited thousands of skilled workers from India over the last couple of years. Genius Consultants, which caters to retail and construction clients in the Middle East, estimates an immediate hit to the number of workers accepting offers. 'We estimate a 35% drop in the hiring numbers in the UAE region," noted R.P. Yadav, chairman and managing director of the recruitment firm. Also read: Who is Gen. Abdolrahim Mousavi? Iran names new Army chief after Israeli strikes kill commander: 'Declaration of war…' Ironically, the Middle East and Russia are some of the prominent regions that attract Indian workers because the clients often pay higher compensation than their Indian counterparts. In fact, this exodus has hit Indian construction and real estate firms, which have flagged a shortage of skilled and unskilled workers.

Careernet Group expands to the Middle Eastern market
Careernet Group expands to the Middle Eastern market

Time of India

time10-06-2025

  • Business
  • Time of India

Careernet Group expands to the Middle Eastern market

Holistic talent solutions provider Careernet has announced its official foray into the Middle East, following its recent expansion into the United States through Longhouse, its executive search arm, the company said in a statement on Tuesday. The Middle East expansion is part of a broader strategic push by the Careernet Group to deepen its presence in key global markets. Careernet's Middle East operations will be based in Dubai, UAE. Backed by 25 years of experience, including scaling teams for fast-growing enterprises, global capability centres (GCCs), and multinationals, this expansion will strengthen the Group's ability to serve both existing clients with operations in the region as well as Middle East-based enterprises seeking strategic talent support across tech, digital, and emerging sectors. As the geography emerges as a global innovation hub, the demand for specialised talent is intensifying across sectors like startups, AI, fintech, and Web3. Careernet's entry into the Middle Eastern market will see it offering enterprises access to talent solutions through its integrated ecosystem of specialist brands: HirePro ( AI-enabled recruitment automation); Longhouse (executive search and talent advisory); and MyCareernet (employer branding and candidate engagement through digital platforms). 'The Middle Eastern region is a rapidly evolving talent hub, and we see it not just as a market but as a strategic focus in our long-term growth vision. We have supported UAE-headquartered companies with their India hiring for many years and are now strengthening that relationship with an on-ground presence in the region,' said Anshuman Das, CEO and Co-founder, Careernet Group. To lead this new phase of growth, Asif Khan has been appointed as Associate Vice President for the Middle East office. Based in Dubai, Asif brings over a decade of experience in sales and client management across IT, FMCG, retail, and energy sectors, along with a deep understanding of the region's talent dynamics. He will spearhead strategic partnerships, client acquisition, and growth initiatives in the region.

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