Money Laundering is the process of making illegally-gained money (“dirty money”) appear to come from legal sources (and appear “clean”). New legislation has been introduced to help combat this criminal activity. The new rules are quite extensive and can impact you as you undertake your daily work.
These rules place an additional duty on all of us to report any knowledge or suspicion of money laundering. Importantly there are now criminal penalties for failing to report where you have knowledge, or just the suspicion of, money laundering.
The University is committed to the highest standards of conduct and integrity and to help us all understand our duty as well as what to do if we do need to make a report the University Anti-Money Laundering Policy has been updated and can be found on the Finance web page here
If you have any questions regarding the Policy or Money Laundering please contact Gordon Vernon, Head of Risk and Financial Compliance