Money Laundering

The Director of Finance is responsible for instituting controls to prevent and detect money laundering through the University’s accounts, and ensuring the University complies with the Proceeds of Crime Act (2002), the Money Laundering Regulations (2007) and all other relevant legislation. Suspected breaches of the Bribery Act (2010) must be reported to the Dr David Barker, Head of Compliance and Risk, who is the University’s Anti-Bribery Officer.

Money laundering is defined as any transaction which involves handling the proceeds of crime, and is a serious criminal offence. It is also a serious crime to “tip-off” a suspected money launderer. The laws against money laundering are binding on individual staff as well as the University as an institution. If staff have cause to suspect that any transaction with the University may be a cover for such activity, they must inform the Director of Finance, or, in the case of suspected bribery, the Head of Compliance and Risk, without delay. The University’s Money Laundering Policy must be complied with at all times.

The Money Laundering Policy and any additional rules issued by the Director of Finance (or approved nominee) requiring the vetting of potential donors, customers and suppliers are binding on all staff.

The University will report all suspected incidents of money laundering to the competent authorities.

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