Money laundering fears as U.K. universities accept £52m in cash
Universities have been accused of inadvertently facilitating money laundering after a Times investigation found that they accepted millions of pounds in cash from students from “high-risk” countries. At least 49 British universities let students use banknotes to pay £52 million in fees over the past five years, including millions from China, India, Russia and Nigeria. Financial crime specialists said the disclosure showed that institutions had turned a blind eye to being used to launder proceeds of illicit activity overseas. One security expert