Implement behavioral biometrics to stop money mules, says UK’s financial regulator

The UK’s Financial Conduct Authority (FCA) has published key findings from a review of what role money mules play in enabling fraud, praising firms that use biometric-based safeguards for verification in onboarding, monitoring, and reporting, and pushing for more advanced biometric tools.

The report follows on the government's Economic Crime Plan and Fraud Strategy, which identify money mules – persons recruited by criminals to carry illegally obtained money – as “integral to moving proceeds of fraud and …

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