The UK’s Monetary Conduct Authority (FCA) says monetary establishments are failing to report “cash mules” to the nationwide fraud database.
The cash laundering method entails a person or “cash mule” shifting the proceeds of crime on behalf of criminals. The mules are generally doing so unwittingly, however nonetheless run the chance of extreme punishment.
In a report printed on January 23, the FCA says that between January 2022 and September 2023, 25 companies had offboarded a complete of 194,084 cash
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