Higher education institutions and the anti-money laundering and counter-terrorism financing regulations

Ryder, Nicholas ORCID: https://orcid.org/0009-0008-8712-2946, Bourton, Dr. Sam, Hall, Demelza and Hillman, Dr. Henry 2023. Higher education institutions and the anti-money laundering and counter-terrorism financing regulations. Criminal Law Review 9 , pp. 560-580.

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Abstract

To tackle money laundering and terrorism financing, the United Kingdom 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 paper 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 paper also identifies significant disparities among universities regarding the implementation of anti-money laundering and counter-terrorism financing legislation. Consequently, the paper offers an original insight into the application and implementation of this legislation to a high-risk, yet under-researched, sector.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Cardiff Law & Politics Cardiff Centre for Crime, Law and Justice (CCLJ)
Subjects:	K Law > K Law (General) K Law > KD England and Wales
Uncontrolled Keywords:	Money laundering, terrorism financing, Higher Education Institutions
Publisher:	Sweet and Maxwell
ISSN:	0011-135X
Date of First Compliant Deposit:	12 June 2023
Date of Acceptance:	11 June 2023
Last Modified:	07 Dec 2023 16:17
URI:	https://orca.cardiff.ac.uk/id/eprint/160289

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