UNIVERSITIES ARE MAGNET FOR INTERNATIONAL MONEY LAUNDERING – SPECIAL REPORT
December 2nd, 2021
Higher education institutions are being warned they could be a target for money laundering, with fees being financed by the proceeds of crime, including corruption, which might also buy property, cars and other items for students.
The problem has been highlighted in a series of reports. In 2019, the UK National Crime Agency (NCA) reported that during February 2019, 95 UK student bank accounts containing an estimated GBP3.6 million were frozen by courts because of concerns they contained dirty money. Most of these accounts were held by overseas students: “The ...
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