Financial firms have closed an increasing number of suspected money mule accounts, with 238,396 closures in 2025, up from 184,935 in 2023. The Financial Conduct Authority (FCA) and National Crime Agency (NCA) are working to combat money laundering.
Why it matters. Financial institutions are stepping up efforts to combat money laundering, which affects the integrity of the financial system and public trust in banks.
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.
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.
The FCA, NCA, Home Office, the Treasury and industry are leading on 9 system priorities (PDF) as part of the UK’s response to economic crime. The FCA is playing a key role on the money mules priority by working with industry on an action plan to tackle the problem, including better ways for firms and law enforcement to share intelligence on suspected money mule activity.
