In August 2025, the Royal United Services Institute (RUSI) published a study based on Lloyds Bank data, revealing how money mules enable criminals to launder billions in the UK.
Fraud accounts for over 40% of UK crime, estimated to cost £200 billion yearly.
The key points highlighted in the study include:
57% of illicit funds move via Faster Payments and 20% through debit cards to foreign exchange, remittance, and crypto platform
Criminals act fast—28% of funds exit mule accounts in 15 minutes, 25% within an hour
One digital firm handled 20% of transfers, exposing weak controls in new providers
Cash and crypto are key exit routes, hindering tracking
Recommendations include stronger detection for debit cards, foreign exchange and crypto, together with improved onboarding for digital banks and Backend-as-a-Service (BaaS). Staff training should also treat mule activity as a national security issue. AI screening, real-time alerts, and industry partnerships are also urged to counter evolving fraud.