Higher Education Institutions and Money Laundering
1:00pm - 2:00pm /
Tuesday 24th October 2023
/ Online event
Type: Webinar /
Category: Department
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Professor Ryder will be speaking about his project with Dr Sam Bourton (UWE), Demelza Hall (UWE) and Dr Henry Hillman (Reading). They have recently published an article: ‘Higher Education Institutions and the Anti-Money Laundering and Counter-Terrorism Financing Regulations’ [2023] Crim. L.R., Issue 9.
To tackle money laundering and terrorism financing, the UK has implemented global mechanisms introduced by the United Nations and the Financial Action Task Force. These mechanisms viewed financial institutions as gatekeepers to the financial system, requiring the introduction of preventative measures. In response, money launderers adapted their techniques and targeted other sectors. While efforts have been made to identify new typologies and adapt relevant legislation, the link between Higher Education Institutions and money laundering remains poorly understood. This article provides a novel investigation into the money laundering and terrorism financing risks to which universities and their students are exposed. Through an analysis of the responses to freedom of information requests, the article also identifies significant disparities among universities regarding the implementation of anti-money laundering and counter-terrorism financing legislation. Consequently, the article offers an original insight into the application and implementation of this legislation to a high-risk, yet under-researched, sector.
To tackle money laundering and terrorism financing, the UK has implemented global mechanisms introduced by the United Nations and the Financial Action Task Force. These mechanisms viewed financial institutions as gatekeepers to the financial system, requiring the introduction of preventative measures. In response, money launderers adapted their techniques and targeted other sectors. While efforts have been made to identify new typologies and adapt relevant legislation, the link between Higher Education Institutions and money laundering remains poorly understood. This article provides a novel investigation into the money laundering and terrorism financing risks to which universities and their students are exposed. Through an analysis of the responses to freedom of information requests, the article also identifies significant disparities among universities regarding the implementation of anti-money laundering and counter-terrorism financing legislation. Consequently, the article offers an original insight into the application and implementation of this legislation to a high-risk, yet under-researched, sector.