# It's not just Monzo

**URL:** <https://community.monzo.com/t/its-not-just-monzo/60109>\
**Category:** Financial Chat\
**Created:** [13 February 2019 18:22 UTC](https://community.monzo.com/t/its-not-just-monzo/60109 "2019-02-13T18:22:08Z")\
**Posts on this page:** 4\
**Page:** 1

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**Author:** ![HoldenCarver](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/holdencarver/32/32425_2.png) [@HoldenCarver](https://community.monzo.com/u/HoldenCarver)\
**Post date:** [13 February 2019 18:22 UTC](https://community.monzo.com/t/its-not-just-monzo/60109/1 "2019-02-13T18:22:08Z")

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> **[Banks close thousands of ‘money mule’ accounts, MPs told](https://www.theguardian.com/business/2019/feb/13/banks-close-thousands-of-money-mule-accounts-mps-told)**
>
> Fraudsters target young people on social media to use their accounts for illegal ends

> Santander said it closed about 24,000 accounts a year on suspicion of fraud.

and

> Lloyds [Banking](https://www.theguardian.com/business/banking) Group formed a “mule hunting team” to spot some of the telltale signs and patterns of behaviour associated with mule accounts and to block them. The bank prevented more than £1m being transferred to fraudsters’ accounts in the first half of 2018 alone.

Given that “It’s not just Monzo, all banks do it” is a line I use a lot when people query reported account closures, it’s nice to now have an article supporting this I can show to people.

Edit for clarity: when I say “people [who] query reported account closures” I mean people who are worried about opening an account with Monzo because they’re concerned by things like Trustpilot reviews.

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**Author:** ![kolok](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/kolok/32/46634_2.png) [@kolok](https://community.monzo.com/u/kolok)\
**Post date:** [13 February 2019 19:09 UTC](https://community.monzo.com/t/its-not-just-monzo/60109/2 "2019-02-13T19:09:19Z")

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Publicly insinuating that they’ve done some sort of fraud is probably not the best idea, not saying they don’t deserve it though.

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**Author:** ![anon72173902](https://avatars.discourse-cdn.com/v4/letter/a/b38774/32.png) [@anon72173902](https://community.monzo.com/u/anon72173902)\
**Post date:** [13 February 2019 19:23 UTC](https://community.monzo.com/t/its-not-just-monzo/60109/3 "2019-02-13T19:23:00Z")

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From the article

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**Author:** ![HoldenCarver](https://dub1.discourse-cdn.com/monzo/user_avatar/community.monzo.com/holdencarver/32/32425_2.png) [@HoldenCarver](https://community.monzo.com/u/HoldenCarver)\
**Post date:** [13 February 2019 19:30 UTC](https://community.monzo.com/t/its-not-just-monzo/60109/4 "2019-02-13T19:30:05Z")

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I intended to insinuate no such thing. I was thinking of people who are put off opening a Monzo account because they’re worried their account will get closed at the drop of a hat. I’ve edited my original post to make this clearer.