Firms crack down on money mules but need to do more
By FCA
AI summary of the source article
An FCA survey revealed that financial firms closed 238,396 suspected money mule accounts in 2025, up from 184,935 in 2023. The regulator found that organized criminal networks often shift illicit funds through multiple accounts and typically cash out between the second and fifth account using card payments. The FCA and UK authorities are collaborating with industry to strengthen intelligence sharing and disrupt mule networks earlier.