Rise in middle-aged money mules as more account closures linked to people in 40s
Closures rose for a third straight year as criminals used personal accounts to move illicit funds, with 37,274 cases among 40- to 49-year-olds.
- The Financial Conduct Authority reported that firms closed 238,396 suspected money mule accounts in 2025, up from 233,269 in 2024 and 184,935 in 2023.
- Criminals use mule accounts to disguise proceeds from serious offending, with the National Crime Agency estimating more than £100 billion is laundered through corporate structures annually.
- Personal accounts represented around 92% of closures, with activity highest among customers aged 26 to 39; 37,274 closures involved customers aged 40 to 49 in 2025.
- Steve Smart, executive director of enforcement and market oversight at the FCA, said "Money muling is a crime and its not victimless." It hampers cash recovery efforts.
- Intelligence-Sharing between firms can help identify linked accounts and disrupt mule activity earlier, the FCA said, while people should avoid suspicious recruitment offers to prevent criminal liability.
13 Articles
13 Articles
Evening Standard
Rise in middle-aged money mules as more account closures linked to people in 40s
The Financial Conduct Authority said it has seen a sharp increase in account closures from suspected mule activity linked to people aged in their 40s.
FCA Closes 238,396 Mule Accounts in 2025 as £100 Billion Laundering Threat Grows
The numbers are stark. UK financial institutions shut down 238,396 suspected money mule accounts in 2025, up from 233,269 the… Read the original on FCA Shuts Down 238,396 Mule Accounts as £100 Billion Money Laundering Persists. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
Financial services: Regulation tomorrow
LexBlogFCA multi-firm review on money mules
On 23 September 2026, the Financial Conduct Authority (FCA) published its findings following a multi-firm review into money mule activity. Background The FCA’s findings are based on its: Survey of financial services firms on suspected money mule activity. Analysis of how fraud proceeds move through the financial system. To build on the survey data and add an operational understanding of how money mules facilitate the movement and cashing out of …
Nearly a Quarter of a Million Suspected Mule Accounts Closed, FCA Data Reveals
Nearly a quarter of a million suspected money mule accounts were closed over the past year with the threat of money mules increasing, according to the Financial Conduct Authority (FCA). FCA data shows that 238,396 suspected mule accounts were closed in 2025, up from 184,935 in 2023 and 233,269 in 2024, as criminals continue to use mule accounts to move and disguise the proceeds of crime. The FCA found that criminals can move fraudulent funds thr…
FCA warns firms must act faster on money mule networks
Financial firms across the UK have shut down a record number of suspected money mule accounts, yet the Financial Conduct Authority (FCA), the country’s financial services regulator, has warned that organised criminal groups continue to route illicit funds through chains of accounts before withdrawing the cash. Findings from an FCA survey show that 238,396 suspected […]
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