UK financial firms closed 238,396 suspected money mule accounts in 2025, up from 2024, but criminals still shift funds through multiple accounts
The UK's Financial Conduct Authority (FCA) reported that financial firms shut down 238,396 suspected money mule accounts in 2025, an increase from 233,269 in 2024 and 184,935 in 2023. Despite these efforts, organized criminal groups continue to move illicit funds through multiple bank accounts before cashing out, making detection and tracing more difficult. The National Crime Agency (NCA) estimates over £100 billion is laundered through the UK annually. The FCA found evidence that funds are often cashed out between the second and fifth account in the chain. Account closures were highest among customers aged 26 to 39, with the sharpest increase seen in the 40 to 49 age group.
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