Dissecting the post-investigation actions on money mule cases in banking financial crime compliance

Mohd Irwan Abdul Rani, Sharifah Nazatul Faiza Syed Mustapha Nazri and Salwa Zolkaflil

Journal of Money Laundering Control, 2025, vol. 28, issue 6, 747-763

Abstract: PurposeThis paper aims to illuminate actions to be executed by the bank’s financial crime compliance department on suspected money mules.Design/methodology/approachThis paper outlines the actions by collecting facts from existing literature review, reports and news on money mule.FindingsMoney mule phenomenon is a threat to the financial system. The irresponsible actions by money mules allow illicit funds to pass through the banks, resulting in money trail dissemblance and prevent detection. The banks must not extend their services to money mules, and actions of suspicious transaction report filing, exit relationship, watchlisting, police report and interbank intelligence exchange should be initiated.Originality/valueThis paper presents mandatory actions to be taken by financial crime compliance department after completion of money mule investigation by anti-money laundering analyst. This study will be beneficial for future money mule researchers, enforcement agencies and practitioners in the banking industry.

Keywords: Exit relationship; Financial crime compliance; Money mule; Police report; Suspicious transaction report; Watchlisting (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-06-2025-0105

DOI: 10.1108/JMLC-06-2025-0105

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