Lloyds Banking Group Tests IBM Quantum Computing to Hunt Money Mules
Lloyds Banking Group completed a nine-month test with IBM using a 156-qubit quantum computer to detect money mules in anonymised transaction data. The project found a planted suspect but remains a proof of concept, not yet in live use. UK Finance reported £1.17 billion stolen by fraudsters in 2024. The British government has pledged up to £2 billion for quantum technology.