UK Firms Close Nearly 240,000 Suspected Mule Accounts

Money mule accounts are bank accounts used to move money that came from crimes.

Some account holders know what they are doing, while others may be tricked.

UK financial firms closed 238,396 suspected mule accounts in 2025.

This was more than in the previous two years.

People aged 26 to 39 had the most closures overall, but closures rose fastest among people aged 40 to 49.

Criminals often send money through several accounts to make it harder to trace.

They may recruit people through fake jobs or requests to transfer money as a favor.

The Financial Conduct Authority warned that people involved could lose access to banking and face prosecution.

Banks and other firms are being urged to share information more quickly to stop criminal networks.