News from the source.

What regulators, the Financial Ombudsman, Parliament, the courts and CIFAS itself have said — summarised neutrally, with a link to the original every time.

Closed, frozen and de-banked accounts

FCA: firms closed 238,396 suspected money mule accounts in 2025

The FCA reports that a survey of 35 financial firms found 238,396 accounts closed as suspected money mule accounts in 2025, compared with 233,269 in 2024 and 184,935 in 2023. It says closures were highest among customers aged 26 to 39, with the sharpest rise among those aged 40 to 49, and that criminals typically cash out between the second and fifth account in a chain of transfers. The FCA says it is working with industry on an action plan to improve how firms and law enforcement share intelligence on suspected mule activity.

Source: Financial Conduct Authority ↗
Closed, frozen and de-banked accounts

Magistrates' court extends an account freezing order in NCA v Football Association Premier League

A District Judge at Westminster Magistrates' Court granted the NCA's application to extend an account freezing order under the Proceeds of Crime Act 2002 by four months, to 15 January 2027, the two-year maximum. The judge held that the test is reasonable grounds to suspect the money is recoverable property, and that there is no separate requirement to show the account should stay frozen while its source is investigated. The order had earlier been reduced by consent from about 16.3 million pounds to about 10.0 million pounds after the NCA accepted the removed funds were not recoverable property.

Source: Judiciary of England and Wales (Westminster Magistrates' Court) ↗
Understanding CIFAS markers

Companies House joins Cifas' National Fraud Database

Cifas says Companies House has become a member of the National Fraud Database, the shared fraud-risk database run by Cifas. Cifas says the membership will help Companies House spot suspicious activity around company registrations earlier and act faster where a company appears linked to fraud. It links the move to the wider powers Companies House gained under the Economic Crime and Corporate Transparency Act, including verifying the identity of directors.

Source: Cifas ↗
Understanding CIFAS markers

Cifas: record 220,000 fraud-risk cases filed in the first half of 2026

Cifas says more than 220,000 fraud-risk cases were recorded to the National Fraud Database between January and June 2026, the highest total it has recorded for that period, with identity fraud making up 59%. It reports nearly 13,000 money mule recordings, a 70% rise on the same period of 2025, and says mules now make up 30% of misuse of facility cases. Cifas says 57% of mule cases involve people under 30.

Source: Cifas ↗
Your rights and complaints

Financial Ombudsman: current accounts the most complained-about product, driven by fraud and scams

The Financial Ombudsman Service says it received 53,600 new complaints between April and June 2026, broadly level with the previous quarter and down from 68,000 a year earlier. Current accounts were the top complaint area with 8,900 cases, mostly about fraud and scams. It also reports that 26% of cases overall were upheld and that complainants used professional representatives in about 10% of cases.

Source: Financial Ombudsman Service ↗
Banking with a marker

FCA tells banks to improve access to basic bank accounts

The FCA says mystery shopping of the nine providers that must offer basic bank accounts rated 28% of 298 interactions as good or very good, 38% as fair, 20% as poor and 14% as very poor. It found that some customers, including people in financial hardship or without standard ID or a fixed address, were not offered a basic account or were steered to unsuitable online applications. The nine firms have agreed improvement plans and a joint commitment, agreed with UK Finance, to offer the right account first time with clear communication.

Source: Financial Conduct Authority ↗