Fintelekt Advisory Services and the Asian Bankers Association will jointly organise a virtual workshop on the topic of Detection and Prevention of Money Mule Accounts.

In the ever-evolving landscape of financial crime, money mule accounts present a significant challenge to financial institutions and governments alike. These accounts are often used to launder illicit funds, making it difficult for authorities to trace the origins of criminal proceeds. The proliferation of money mule accounts can lead to severe financial losses, reputational damage, and regulatory penalties for financial institutions.

This Fintelekt-ABA workshop is designed to provide participants with learnings and insights into:

• Typical money mule networks
• Money laundering and terrorist financing risks posed to the organisation by money mules
• Emerging trends and techniques used by criminals for recruiting and exploiting money mules
• Typically observed red flags or warning signs for identifying potential money mule activity
• Various identifiers that can be leveraged to detect money mule accounts
• Proactive strategies and innovative approaches that can be utilised to protect the organisation and its customers