Firms crack down on money mules but need to do more

Financial firms are shutting down hundreds of thousands of suspected money mule accounts, but organised criminal groups are still shifting dirty money through multiple bank accounts before cashing out. An FCA survey found firms have closed an increasing number of suspected mule accounts over the last 3 years: 238,396 suspected mules had their accounts closed in 2025, up from 184,935 in 2023 and 233,269 in 2024.An increase in account closures could reflect broader customer growth alongside improvements in identifying and acting on suspected mule activity, rather than necessarily meaning mules make up a higher proportion of firms’ business.The National Crime Agency (NCA) estimates more than £100bn is laundered through the UK or UK corporate structures each year. Money mule activity is one way criminals move these funds, by using people’s bank accounts to receive or transfer money on their behalf.Account closures were highest among customers aged 26 to 39 (91,073), while the sharpest increase was among customers aged 40 to 49 (37,274 in 2025 up from 25,760 in 2024). Customers aged 25 and under (85,425) also represented a significant proportion of closures.The financial regulator also

Cancele cuando quiera · 99 CA$/mes