Student Finance

Anti-Money Laundering Requirements

We have recently been contacted by Universities UK regarding guidance for all students for anti-money laundering and UUK has drafted a reactive statement, as follows:

“Universities UK has been informed of this action, which will help to raise awareness of the risks of money laundering. The security and welfare of students is always a top priority for universities. We would be concerned if any student studying at a UK university has been exploited and unwittingly drawn into criminal activity. Equally, we recognise the seriousness of this issue and the sector’s responsibility to make all students aware of the consequences of involvement in criminal activity. The message to students is to remain vigilant and question anything that seems unusual. We would encourage any student who fears their account may have been misused to speak to either their university support services, banks, or to the police.”

As a student you should:

  • understand your responsibilities not to engage with suspicious activities;
  • exercise vigilance;
  • know what to do if you are concerned about activity linked to bank accounts you hold; and
  • are aware of the serious consequences of involvement in this sort of criminal activity

The British Council’s Creating Confidence guidance and the UKCISA website both contain helpful information for students.

Under the University’s Anti-Money Laundering Procedures, the University will not accept transfers of funds for personal living or other expenses. Funds to cover living costs, including the cost of non-University accommodation, must be paid directly to your own bank account under a separate transaction. Any payments so received will be returned directly to the sender by the same method that payment was made.

Finance Department, The Registry, University of Kent, Canterbury, Kent, CT2 7NZ

Contact us - Students | Staff | External, or Fax: +44(0)1227 827024

Last Updated: 08/06/2020