Money Mule And Crypto Schemes Now Top Money Laundering Threats, According to New Research from Feedzai

Money mule schemes, multi-customer cross-wallet activity and the use of crypto exchanges are the most common money laundering techniques, yet most firms are failing to make use of available technology to mitigate the threat, according to the latest research from Feedzai, the world’s first RiskOps platform for financial risk management.

The State of Global Anti Money Laundering Compliance Report surveyed 636 Anti-Money Laundering (AML) compliance experts, representing 77 companies around the world, most of them from the financial services industry, and overall 74% of respondents cited money mule schemes – both unwitting (44%) and witting (30%) – as the most common money laundering threats.