Latest News
- Disaster and Business Continuity
- Derivatives Operations +
-
Securities Operations
+
- IBOR
- Affirmation, Allocation & Confirmation
- Back Office
- Buy-Side
- Case Studies
- Clearing
- Corporate Actions
- Data Management
- FX Operations
- Hedge Fund Operations
- Industry News
- Private Equity
- Mergers & Acquisitions
- Middle-Office
- Operational Risk
- Ops Automation
- Outsourcing
- Private Markets
- Reconciliation & Exceptions
- Risk Management
- Sell-Side
- Settlement
- T+1 Settlement
- Diversity & Human Interest +
- FinTech Trends +
- Opinion +
- Performance Measurement +
- Regulation & Compliance +
- Industry News +
- FTF Media & Content Channels +
- FTF Bull Run Blog
Firms have a relatively new form of fraud to watch out for — so-called “mule” accounts. They can do a lot of damage, says Anurag Mohapatra, director of product marketing and fraud strategy for NICE Actimize, whose Integrated Fraud Management (IFM) offering won the Best Fraud Prevention Solution honor at the 2026 FTF News Technology Innovation Awards.
A mule account at a financial services firm is used by criminals to retain and launder illegally obtained money. Such accounts can seriously harm securities trading and operations.
“Mules can do a lot of damage, a lot more than people in the securities industry are aware,” says Mohapatra, who adds that mule accounts have become the infrastructure for criminal behavior. “So mule accounts are used to funnel dirty money … So now imagine if those funds can enter into the security markets.”
The video chat also covers:
- Concerns about the risks of tokenization including back-office operations, particularly settlement;
- The guardrails that regulatory authorities are thinking about;
- How international consortiums are sharing key intelligence about fraud, money laundering, and other financial crime;
- How financial services firms can get involved in protecting themselves against mules and other types of fraud.
Is your company featured in this article? Contact us about reprints or licensing.
- Read More:
- AML,
- Digital Assets,
- FTF News Technology Innovation Awards,
- FTF awards,
- Financial Crime,
- Financial Technology,
- Fraud Prevention,
- IFM,
- Integrated Fraud Management,
- Money Mules,
- Mule Account Fraud,
- Mule Accounts,
- NICE Actimize,
- Securities Operations,
- money laundering,
- securities trading,
- settlement,
- tokenization
Leave a Reply