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...
What happened
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...
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1 reports · 1 original report · 1 independent
- Financial Conduct AuthorityPrimary source · Supports · EN · 100%Firms crack down on money mules but need to do more ↗
Claims
- Firms crack down on money mules but need to do more Observed
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No material conflict detected in the available evidence.
Timeline
- First reported
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