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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 Na
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.
ction tools.The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.
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 Na
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.