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FCA fraud report hones in on money mules

FCA buiding
Photo: Getty Images

The FCA says banks and e-money institutions have a particular duty to disrupt money mule activities.

The FCA has said firms need to maintain efforts to identify and remedy weaknesses in their anti-fraud detection systems, or face regulatory consequences.

This latest review from the FCA follows the outlining of the national Fraud Strategy and Economic Crime Plan 2 (2023-2026), a successor to the first plan, which

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