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Key Information Sources

Information on global fraud and corruption, and related information on University banking restrictions caused by international sanctions

Global levels of corruption - CPI Index

Perceived levels of government and public sector corruption across the world are captured by the annual Corruption Perceptions Index ("CPI Index"), produced by the anti-corruption charity, Transparency International.

The latest CPI Index can be found here.

Financial Action Task Force (FATF)

FATF is a global organisation which monitors international compliance with recommended standards on anti-money laundering and terrorist financing.  Their work gives an indication of certain countries' willingness and ability to implement these standards and has resulted in certain countries being "blacklisted" and others being identified as high risk for potential money laundering and terrorist financing activities.     

HM Treasury Anti-Money Laundering Guidance

The UK Government produces guidance on suggested controls around money laundering and terrorist funding on a regular basis as part of its counter terrorism strategy.    Latest guidance can be found here.

International Sanctions and Embargoes and implications on the University's banking arrangements

International sanctions and embargoes can be used by Governments to implement international anti-money laundering guidance and to strengthen national controls around transactions which may be linked to money laundering and terrorist financing.   

Compliance with current UK, EU, US and UN sanctions are a condition of the University's banking covenant and these sanctions influence how UK Banks interact with other countries.

As a result, proposed payments to/form the following countries CANNOT BE PROCESSED by the University's bank:

  • Iran
  • North Korea

And, proposed payments to/from the following countries MUST BE APPROVED IN ADVANCE by the University's bank:

  • Syria
  • Venezuela

  • Cuba
  • Crimea 
  • Donetsk People's Republic (aka DNR)
  • Luhansk People's Republic (aka LNR)
  • Kherson
  • Zaporizhzhia

We have experience of helping Faculties and Services deal with the implications of these banking arrangements (e.g. accepting tuition fee payments from Iranian students based in the UK).  Contact Jack Taylor for more information.  

More information:

  • Latest UK Government advice on UK sanctions and embargoes can be found here.
  • Latest US Government advice on US sanctions and embargoes can be found here

 

 

Page last updated: December 2022


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