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Universities should establish anti-money-laundering practices
Reports that the tuition fees of West African students at United Kingdom universities could be used for money-laundering purposes have put universities in Africa that receive cash on the alert, underscoring the significance of anti-money-laundering regulations.
More pressure is put on UK educational establishments to not accept tuition fees in cash and to file suspicious activity reports when they have concerns, according to Helena Wood, associate fellow at the UK-based Centre for Financial Crime and Security Studies of the Royal United Services Institute for Defence and Security Studies.
However, she told
University World News that the nature of the threat should be investigated further before blanket regulation is considered.