New anti-money laundering technology ‘joins the dots’ to track suspect accounts


December 12 2018

The initiative analyses billions of transactions, bringing together payments data from multiple banks to help fraud teams pinpoint potential mule accounts – where people are involved in suspected illegal activities – and see where the money has been siphoned off to.

Those behind the scheme said it will help the UK’s financial institutions detect and respond to criminal activity across the payments network – with the potential to disrupt fraud and money laundering worth millions annually.