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ARTICLE · 16 FEBRUARY 2024

Money Laundering Risks Arising In Education

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A recent study published by the Criminal Law Review journal found that one in five universities may be putting themselves at risk of money laundering by accepting cash payments for tuition fees and accommodation...

United KingdomGovernment, Public Sector
Natalie Sherborn
Natalie Sherborn
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A recent study published by the Criminal Law Review journal found that one in five universities may be putting themselves at risk of money laundering by accepting cash payments for tuition fees and accommodation, despite an investigation by The Times which highlighted the risks. While the study concerned universities specifically, many of the lessons to be drawn from it equally apply to independent schools and other institutions that charge fees for education.

The study considers research carried out by Cardiff University and the University of the West of England which found that a significant number of higher education institutions failed to provide staff and students with guidance on potential money laundering risks.

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