February 28, 2019

Coordinated AML action in the UK seeks to freeze student bank accounts

The National Economic Crime Centre (NECC), part of the UK National Crime Agency (NCA), has announced a day of coordinated action seeking to freeze 95 bank accounts in the UK.  According to the NCA, the accounts are held mainly by foreign students, who may have been targeted by organized crime groups to launder the proceeds of crime; funds in some of the accounts have been used to purchase goods for export to China, after having been declared as financial support to overseas students.

NCA press release