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Inside the fraud economy of 2026: Mules, synthetics and the next wave

Join Santander, UK Finance and Synectics as we unpack what Tier 1 bank data reveals about how fraud and money laundering risk is shifting - and how we can adapt. 

 

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What you'll learn

We explore how defences will be tested by hidden mule networks, synthetic identities and AI-driven fraud - and hone in on the strategy changes that will drive the biggest impact.

  • Hear how Santander is evolving its industry-leading mule strategy while protecting good customers and those vulnerable to recruitment
  • Get new insight on how money muling and adjacent threats are shifting - with eye-opening figures from the UK’s largest risk intelligence consortium
  • Take away ideas for testing mule rules against emerging attack patterns, and learn why cross-sector collaboration makes a real difference
Chris Ainsley, Head of Fraud and Risk Management, Santander (7)

Key insights 

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Money mule trends 

Fresh intelligence from Tier 1 banks on how mule networks now operate - both real and virtual - and the products and people they’re targeting 

Where fraud meets laundering 

How AI-enabled frauds like synthetic IDs are creating new laundering pathways - changing where mules appear and how quickly they move 

Santander’s layered strategy 

Practical principles from Santander on matching controls to specific threats - and setting clear ownership across fraud and AML teams

  • “All the money mules we have are the lifeblood of other fraud types.”

    Santander’s Chris Ainsley on money laundering as the core of the fraud economy

Meet the speakers

Chris Ainsley, Head of Fraud and Risk Management, Santander

Chris Ainsley has worked in the fraud and economic crime industry for over 20 years, and is currently Head of Fraud Risk Management at Santander. He has extensive experience of fraud prevention and detection solutions across retail and transactional banking.

Osman Khurshid, Chief Client Officer, Synectics Solutions

Osman is accountable for leading client success, drawing on over a decade spent in counter-fraud. He partners with leading banks, insurers and fintechs to maximise the value of defence initiatives, spearheading shared intelligence and embedding AI to reduce losses, streamline operations and enhance customer journeys.

Dianne Doodnath, Principal, Remote Payment Channels, UK Finance

Dianne works closely with financial institutions and other sectors to close vulnerabilities beyond the perimeter of the banks. Having worked in fraud prevention for over 17 years, Dianne now primarily engages with companies outside the FI sector to encourage and foster collaborative initiative to protect mutual customers. 

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