A number of British universities are feared to have ‘inadvertently facilitated money laundering,’ following an investigation by The Times which has found that at least 49 universities had accepted cash payments for tuition, accommodation, and other fees, adding up to millions of pounds, from students from countries which are considered to be ‘high risk,’ including China, India and Russia. 

At least 49 British universities are said to have accepted cash payments for fees, amounting to £52 million over the past five years. A Freedom of Information request by The Times showed that the universities that accepted the largest amounts in banknotes since 2015 included The University of Essex, which accepted £5,393,490, and The University of Manchester, which accepted £5,007,749. The University of Birmingham was not on the list, and does not accept cash payments for fees. 

Matthew Page, a fellow at the international affairs think tank Chatham House, and a former US government security analyst, said that ‘any educational institution who accepts cash payments is essentially putting out a welcome mat for the world’s kleptocrats and money launderers.’  He added that universities would be unlikely to question any inconsistencies as they are likely to be more concerned with students’ ability to pay than the source of their funding. 

There are currently no rules which ban universities from accepting cash payments. However, a number of universities have taken decisions to stop taking cash payments as the risks involved have become clearer. The University of Essex stopped accepting cash during the pandemic, and has no plans to return to this method of payment. 

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