UK warns Nigerian students against money laundering

The United Kingdom has warned intending Nigerian students to the United Kingdom against engaging in money laundering and other crimes.

The warning was made known in a letter of caution issued to the Nigerian Ministry of Education on Friday.

In a statement signed by the federal ministry of education’s spokesperson, Ben Gooong, the warning came following a revelation by the United Kingdom’s National Economic Crime Centre (NECC) that international students’ bank accounts are being used as conduits for money laundering in the UK.

According to NECC, students are usually targeted through social media platforms for the use of their accounts for third party funds transfer, usually for a fee.

The United Kingdom said there is the need for students to be mindful of how their bank accounts are used, especially for the transfer of illicit funds as it will result in the termination of their studies and prosecution when caught.

It also said it discovered and froze 95 bank accounts, mostly belonging to international students, with over €3 million deposited in 2019 alone.

”While pledging to strengthen its fight against money laundering this year, the government disclosed that it discovered and froze 95 bank accounts, mostly belonging to international students,” the statement said.

The UK government said its resolve to take more concrete steps against the activities of money launderers is prompted by its plan to reintroduce a post-study work visa for international graduate students in 2020 which is expected to increase the number of international students, including Nigerians.