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

Ryder, Nicholas; Bourton, Sam; Hall, Demelza; Hillman, Henry

Authors

Henry Hillman Henry3.Hillman@uwe.ac.uk
Associate Lecturer - FBL - LAW - ULAW0001



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.

Citation

Ryder, N., Bourton, S., Hall, D., & Hillman, H. (2023). Higher education institutions and the anti-money laundering and counter-terrorism financing regulations. Criminal Law Review -London-, 9, 560-580

Journal Article Type Article
Acceptance Date Jun 10, 2023
Online Publication Date Aug 31, 2023
Publication Date Aug 31, 2023
Deposit Date Jun 12, 2023
Publicly Available Date Sep 1, 2024
Journal Criminal Law Review -London-
Print ISSN 0011-135X
Publisher Sweet and Maxwell
Peer Reviewed Peer Reviewed
Volume 9
Pages 560-580
Keywords Higher Education institutions; Higher Education; anti-money laundering; money laundering; counter-terrorism; counter-terrorism financing; counter-terrorism financing regulations
Public URL https://uwe-repository.worktribe.com/output/10859923
Publisher URL https://uk.westlaw.com/Document/I66013B303C2411EEA93BB8C0DDBD234D/View/FullText.html?navigationPath=Search%2Fv1%2Fresults%2Fnavigation%2Fi0ad73aa60000018a275423ed3cdf567e%3Fppcid%3D039a1e6ce7794b7c9214593eb644e369%26Nav%3DUK-JOURNALS-PUBLICATION%26fragmen

Files

This file is under embargo until Sep 1, 2024 due to copyright reasons.

Contact Sam.Bourton@uwe.ac.uk to request a copy for personal use.







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