Money mules. You’ve heard about the drained banked accounts and ruined lives. But let’s dig deeper into the cruelest of modern financial crimes.
Welcome to "Unmasking Money Mules," a breakthrough 8-episode financial crime podcast series where the best and brightest minds in risk management have come together for frank, unscripted conversations. We blend real-life stories of money mule victims and social engineering, expert analysis on modern fraud and money laundering, and AI-driven insights to tell a story of technology, greed, and deception at scale.
In our first episode, Tony Craddock from The Payments Association and Mike Nathan from Feedzai explore the seismic shifts on the horizon for the financial services industry due to regulatory changes in fraud prevention and how these might rewrite the rules of the game—for better or worse.
Throughout this series, you’ll get exclusive insights, unfiltered opinions, and actionable tips, all aimed at empowering you to take a stand against financial crime. Don't Be a Bystander—Be a Force for Change. Subscribe Now and Unmask the Money Mules.
CHAPTERS:
0:00 Intro
1:23 UK Innovation
2:53 Does innovation lead to exploitation?
3:45 Money Mules: Fraud or Money Laundering?
5:38 Are the same criminals behind all of it?
7:35 Will mules become more of a fraud problem & get more focus?
9:13 PSR’s Proposals on Liability for Scams
15:06 Unintended Consequences of Split Liability
18:47 Monitoring Inbound Payments
22:53 What changes around reimbursement?
29:00 Are all the right people at the table to deal with this problem?
33:45 Will scams ever go away?
35:03 Point of Compromise: A Centralized Data Pool & Tokenization
40:45 The Role of Telcos and Social Media Companies
43:36 WePay / WeChat & the Launch of the Digital Yuan in China
48:50 The Role & Responsibility of the Networks
52:11 Additional Network Services
55:05 Crypto Remittance
1:02:27 Will physical cash go away?
1:03:51 Consequences on Financial Inclusion
1:08:50 Should we delay more payments?
1:11:17 Are faster payments going through the same evolution as cards?
1:13:04 UK Finance Latest Numbers
1:14:36 Consumer Adoption: How long will it take to trust third parties?
1:19:40 Risk of Breaches with Open Banking Details
1:24:10 Will other countries go straight to where the UK is now as they introduce real-time payments?
1:26:38 Are money mules the consequence of real-time payments?
1:30:59 Future Predictions: Where does this all lead?
1:35:08 Conclusion
