MONEY LAUNDERING FEARS AS UK UNIVERSITIES ACCEPT £52 MILLION IN CASH

On 22 February, KYC 360 reported that UK universities have been accused of inadvertently facilitating money laundering after an investigation in The Times found that they accepted millions of pounds in cash from students from “high-risk” countries.  At least 49 British universities let students use banknotes to pay £52 million in fees over the past 5 years, including millions from China, India, Russia and Nigeria.  Financial crime specialists said the disclosure showed that institutions had turned a blind eye to being used to launder proceeds of illicit activity overseas. 

https://www.riskscreen.com/kyc360/news/money-laundering-fears-as-u-k-universities-accept-52m-in-cash/

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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