UK universities still taking cash payments for fees ‘is money laundering risk’

A study reveals that a significant number of UK universities continue to accept millions in cash for tuition and accommodation payments, making them vulnerable to money laundering risks. Around 22 universities still accepted cash payments, with the total reaching £12m in 2019-20. The research highlights concern about anti-money-laundering guidelines not being strictly followed and universities not reporting suspicious activity, potentially endangering staff and students. The study calls for stricter legislation to address these vulnerabilities.