Warnings issued after Britain freezes Chinese students’ bank accounts on money laundering fears
- British officials suspect that organised crime groups targeted overseas students
- Reminders for Chinese citizens to exchange money through legal channels
Dozens of Chinese students’ bank accounts have been frozen in Britain on suspicion of money laundering, forcing the embassy in London to issue a statement saying it is looking into the matter and reminding Chinese citizens to exchange money through legal channels.
Britain’s National Economic Crime Centre (NECC) announced last week that it coordinated an action with multiple agencies to freeze 95 bank accounts containing an estimated £3.6 million (US$4.7 million).
The accounts were held by overseas students studying in Britain. Officers from the NECC believe the students are likely to have been targeted by organised crime groups, especially money launderers, according to a statement from the agency.
Most of these students are from China and all the accounts were with Barclays, reported the Financial Times. None of the students have been accused of any crime.
“We have noticed the concerning reports and we are verifying the situation,” the Chinese embassy in London said on Wednesday. The embassy has been consistently reminding Chinese residents in Britain to obey both British and Chinese laws. “In the meanwhile we are urging the British authorities to deal this case in a judicious way to guarantee Chinese citizens’ rights,” the statement said.
