UK Finance Firms Shut Almost 240,000 Suspected Money Mule Accounts Yearly

UK finance firms are shutting down hundreds of thousands of suspected money mule accounts annually, the FCA has said.
UK Finance Firms Shut Almost 240,000 Suspected Money Mule Accounts Yearly

Financial Crime, Fraud, UK

By PAUL O’DONOGHUE, Senior Correspondent

UK finance firms close hundreds of thousands of suspected money mule accounts every year, according to the Financial Conduct Authority (FCA).

The regulator warned that criminals are increasingly using 'established' money mule networks to launder the proceeds of fraud.

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