August 30, 2026 12:01 PM
Mule accounts become key conduit for cyber fraud; agencies deploy AI tools to curb misuse
Mule bank accounts have emerged as a key conduit for cybercriminals to receive, layer and move money obtained through online fraud, prompting banks, law-enforcement agencies and regulators to strengthen mechanisms to identify and block such accounts. A mule account is a bank account belonging to an individual or entity but used by another person to receive or transfer illegally obtained funds. Such accounts may be opened in the names of unsuspecting individuals or deliberately provided by accou...
