NPO RISK - 100 Bank Accounts and Zero Oversight in a UK Charity Scandal

The UK Charity Commission has concluded a seven-year statutory inquiry into Mountain of Fire and Miracles Ministries International (MFM), a Christian charity with over 90 branches across the UK.

The investigation uncovered serious financial mismanagement, including the operation of more than 100 bank accounts with little to no oversight by the trustee.

Governance Failures and Trustee Oversight

The inquiry revealed that MFM’s trustees failed to maintain adequate financial controls. Branches operated autonomously, opening bank accounts and making major financial decisions —including property purchases and lease agreements —without informing or obtaining approval from central leadership. This lack of oversight created substantial risks to charitable funds and resulted in inaccurate financial reporting.

Regulatory Action and Interim Management

Due to the severity of the governance failures, the Charity Commission appointed an interim manager in August 2019 to implement financial controls and restore order. The interim manager’s tenure lasted until September 2024, reflecting the complexity of the reforms required. The Commission also froze the charity’s assets to prevent further financial loss.

Money Laundering Risks in Religious Charities

This case highlights the broader risks of money laundering in religious charities. Charities benefit from tax exemptions and public trust, but weak governance structures can make them vulnerable to abuse. The decentralised nature of MFM’s operations, with branches managing their own finances, mirrors the typology of high-risk financial institutions. Without consolidated oversight, funds can be moved and spent without accountability, creating an ideal environment for illicit economic activity.

Lessons and Reforms

Following the inquiry, the Charity Commission issued a regulatory action plan to strengthen MFM’s governance and financial reporting mechanisms. The trustees have since complied with the plan, and the charity is now expected to operate under stricter supervision.

Conclusion

The MFM case serves as a cautionary tale for faith-based organisations and regulators alike. It underscores the importance of robust internal controls, trustee independence, and proactive oversight to safeguard charitable assets and maintain public trust.

Verified Source Links

GOV.UK – Charity Commission Press Release: https://www.gov.uk/government/news/regulator-finds-serious-financial-mismanagement-at-charity-which-had-more-than-100-bank-accounts

Civil Society – Financial Mismanagement Report: https://www.civilsociety.co.uk/news/serious-financial-mismanagement-found-at-charity-with-over-100-bank-accounts.html

Fincrime Central – Charity Money Laundering Risks: https://fincrimecentral.com/mountain-of-fire-charity-money-laundering/

Premium Times – MFM Response to Inquiry: https://www.premiumtimesng.com/entertainment/naija-fashion/830282-no-assets-were-frozen-mfm-challenges-uk-regulators-report-on-financial-mismanagement.html

UKPOL – Charity Commission Press Release: https://www.ukpol.co.uk/press-release-regulator-finds-serious-financial-mismanagement-at-charity-mountain-of-fire-and-miracles-ministries-international-which-had-more-than-100-bank-accounts-october-2025/

Kingsley Napley – Charity Money Laundering Legal Risks: https://www.kingsleynapley.co.uk/insights/blogs/litigation-for-charities-blog/the-risks-and-penalties-of-money-laundering-for-charities-and-how-to-guard-against-it