Over half of fraud payments in money mule account less than an hour - RUSI study

Analysis of Lloyds Banking Group data on transfers from known money mule accounts from mid-June to mid-August last year, by researchers at the Royal United Services Institute (RUSI), found that just under 28% of the total value left within 15 minutes, and another 25% within an hour. Under 15% stayed in the mule account beyond 24 hours.

Analysis of Lloyds Banking Group data on transfers from known money mule accounts from mid-June to mid-August last year [2024], by researchers at the Royal United Services Institute (RUSI), found that just under 28% of the total value left within 15 minutes, and another 25% within an hour. Under 15% stayed in the mule account beyond 24 hours.