RUSI warns UK money mule activity threatens national security, with a 23% rise in 2024, 227K accounts closed by the FCA, and fraud via social media now driving 45% of all crime

Fintechs and Banking-as-a-Service platforms were identified as especially vulnerable, with BaaS providers accounting for 10% of tracked transfers. Despite these risks, fraud database filings fell 17%, reflecting reporting changes, even as regulators and banks intensify collaboration with tech firms and law enforcement to disrupt this fast-moving threat…