Beautiful Virgin Islands

Saturday, Sep 06, 2025

Money laundering fears as U.K. universities accept £52m in cash

Money laundering fears as U.K. universities accept £52m in cash

Universities have been accused of inadvertently facilitating money laundering after a Times investigation 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 five 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. One security expert said they were “putting out a welcome mat for the world’s kleptocrats and money launderers”. Cash payments do not leave a paper trail that could allow police or banking regulators to track them back to source. They are typically not allowed for most high-value purchases, such as houses.

University officials say that rigorous checks are carried out. However, only 24 out of 478,437 suspicious activity reports filed to the National Crime Agency (NCA) in the 2018-19 fiscal year came from the education sector. Data obtained by The Times under freedom of information laws shows that the top cash-paying country was China. The universities that replied, including some from the elite Russell Group, had received £7.7 million in banknotes from Chinese students since 2015.

All universities said that they had strong due diligence procedures in place and some now refused to accept cash. Universities UK said: “Universities work together with the government, the police service and relevant sector bodies to help protect students and individual institutions from potential money-laundering activity.”

The top cash-paying country was China, with respondent universities receiving £7.7 million in banknotes from Chinese students since 2015. This was followed by £1.8 million from Indian students, £1.2 million from students from Pakistan and £1.5 million from Nigerian students. Some universities did not specify nationalities.

Many universities accepting banknotes were newer institutions such as Essex, which took £5.4 million, and Wolverhampton, which took £2.8 million. Older universities have also received big sums. Manchester University took £5 million, while Nottingham University accepted £1.8 million, mainly from Chinese students. Durham received £440,000 from foreign students, £200,000 of which came from Chinese students and tens of thousands from Saudi and Kazakh students.

Strathclyde University in Glasgow, which took £700,000 in banknotes, said that it would allow students who could not pay electronically to bring cash to campus.

Russia and Ghana were also identified as “high-risk” cash suppliers. Payments were made for tuition, accommodation and other course fees.

The National Crime Agency said in a 2019 report that overseas students were a target for money launderers. In February that year the authorities froze 95 UK bank accounts containing about £3.6 million, mainly held by overseas students.

Matthew Page, a fellow of Chatham House who has researched money-laundering risks at UK universities, said that students studying abroad whose parents were public officials posed a significant risk. Page, a former US government security analyst who specialises in Nigeria, said: “Any educational institution that accepts cash payments is essentially putting out a welcome mat for the world’s kleptocrats and money launderers.

“Universities that accept cash are at high risk of laundering the proceeds of crime, corruption and other illicit activities. Universities that fail to conduct basic due diligence cannot plausibly deny that they are involved in money laundering.”

He said that university admissions staff were unlikely to question discrepancies because they were focused on the ability to pay, not the source.

Chris Greany, a former UK national police co-ordinator for countering economic crime, questioned why universities had not stopped taking cash payments years ago. “You can’t buy a car, a flight or rent a hotel room for cash any more, so I don’t see how it can still be acceptable for universities,” he said.

“It is known that cash payments from many of the countries mentioned here are sometimes linked to money laundering and other criminal enterprises, so cash-based payments need proper scrutiny and accountability, but there is no good reason for them at all.”

Ben Cowdock, lead investigator at Transparency International UK, a not-for-profit group, said: “Whilst not subject to anti-money-laundering rules, British universities are exposed to illicit wealth as wealthy criminals seek the best education for their children. Universities should be alert to signs they may be handling dirty money.”

All universities said they had strong due-diligence procedures in place to avoid the possibility of money laundering through cash takings. Essex said it worked closely with “Lloyds bank and other sector experts to keep up with latest advice”. Wolverhampton said it had stopped taking cash in March last year, that it had “rigorous procedures and policies”, and that all its due-diligence checks complied with regulations.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
×