The majority of money laundering arrests involve people under the age of 30, new analysis has found.
The study , from academics at Cardiff University and the University of the West of England, is the first to reveal the scale of money laundering offences across the UK.
Figures recorded by 36 police forces in England and Wales were obtained via Freedom of Information Act requests. The data and analysis reveals that 8,956 adults under 30 years-old were arrested for money laundering offences under the Proceeds of Crime Act 2002 between January 2020 to January 2025. In total for all age categories, there were 14,493 recorded money laundering arrests; this resulted in 7,735 charges.
Anonymous interviews and surveys with Regional Organised Crime Units and City of London Police reveal that students, particularly international students, are seen as particularly vulnerable to becoming recruited as money mules.
Money mules are individuals who transfer the proceeds of crime on behalf of criminals, often through a bank account, to disguise the source of the funds and complicate or frustrate investigation by law enforcement agencies.
The research highlights that higher education institutions are not included in the Money Laundering Regulations , which require organisations to report suspicions of money laundering and terrorist financing to the UK Financial Intelligence Unit at the National Crime Agency. Without being subject to this legal framework, the information being shared with law enforcement agencies is limited, academics say.
Study lead Professor Nicholas Ryder, based at Cardiff University's School of Law and Politics, said: "This study is the first to reveal the number of money laundering offences, which collectively include arrests and, charges, being recorded by police forces across the UK. Adults under 30 make up the largest proportion of arrests and our interviews with law enforcement officials suggests this is due to younger people being increasingly recruited as money mules."
While it was not possible to identify the number of cases that involve students, there is a clear view among police officers that students are particularly susceptible, due to factors such as financial hardship, manipulation, and limited awareness.
"Significant efforts are therefore being undertaken by these teams to prevent and respond to offences involving students.
"But, despite this being a clear area of concern, the involvement of universities in alerting authorities to suspected money laundering is often perceived to be out of scope of the existing anti-money laundering legal framework."
Law enforcement responses therefore concentrate on the involvement of individuals rather than institutions. The bigger picture relating to these sophisticated criminal networks is potentially being lost.
While the analysis suggests offences are most common among people aged 18-29, people over 30 represent a substantial but secondary group. Under-18 involvement is less frequent across all forces.
There are also significant regional variations, with a clear concentration of activity in a small number of police force areas. At the highest end, Greater Manchester (570), Merseyside (566), and Leicestershire (485) stand out as the regions with the highest number of s.327 offences. These are followed by the Metropolitan Police (404) and Devon & Cornwall (327), with Kent (214) and West Yorkshire (200) also showing high figures.
The report notes that the 2025 National Risk Assessment by the Home Office and HM Treasury concluded that schools and universities represent an emerging vulnerability for money laundering because of their global reach, financial flows and comparatively weaker regulatory oversight.
The UK Fraud Strategy recognises that money mule networks are central to laundering fraud proceeds and the importance of educating students.
Publicly available data from the Ministry of Justice shows 108 children and 420 young adults (18-24) were convicted of money laundering offences in this same time period.
Co-author of the report Dr Samantha Mapston, of Bristol Law School at the University of the West of England, said: "This project demonstrates that money laundering enforcement more generally is concentrated, uneven, and resource-driven. Interviews reveal that the criminal justice system performs better in responding to simpler cases, while complex financial crime remains challenging."
Ultimately, these findings highlight the need for greater consistency, capability, coordination and allocation of resources across jurisdictions in tackling money laundering, including in educational settings.
Susan Hawley, Executive Director of Spotlight on Corruption , said: "This research shows once again how important it is that the UK government reviews the scope of who is regulated for money laundering, and particularly how the education sector can be brought under tighter supervision. We urge the government to bring forward proposals on this in the early part of the Autumn for consultation. It is essential that students who may be vulnerable to being cash mules are adequately protected and informed and that universities play their role in doing this."
Nik Adams, Deputy Commissioner at City of London Police, who is also National Coordinator for Economic and Cyber Crime and National Police Chiefs' Council (NPCC) Lead for Financial Investigation and Asset Recovery, said: "We welcome this important report and its recommendations, which highlight the need for a more coordinated and consistent approach to tackling money laundering and money mule activity, particularly among young people.
"The findings reinforce the importance of prevention, partnership working and investment in specialist capability. We support the call for a national strategy, stronger collaboration between law enforcement, educational institutions and the financial sector, improved data sharing, and greater resources to tackle financial crime effectively."
With victims at the heart of everything we do, protecting students from exploitation and disrupting criminal activity is key and requires a collective effort, and we look forward to working with partners across the UK to help deliver these recommendations.
Jordan Coates, Fraud and Cyber Supervisor at the South-West Regional Organised Crime Unit, which is working to educate young people about the dangers of money laundering, said: "This report is so important in helping young people understand and protect themselves from financial exploitation. It's findings feed into our work to provide clear, age-appropriate education from Key Stage 2 right through to Key Stage 5, equipping children and young people with the knowledge they need to recognise unsafe contact, spot the warning signs of exploitation and know where to find help and support.
"Our comprehensive resources, accredited by the PSHE Association and endorsed by the Home Office, ensure that educators and youth leaders have everything they need to deliver consistent, high-quality learning on a high harm, modern threat. By making these lessons accessible and free to anyone working with young people across England, we can help empower young people to make informed decisions, stay safe, and protect their future."
Brian Collins, Economic Protection Officer from the North-East Regional Organised Crime Unit (NEROCU), said: "Money muling is a complex and layered form of organised crime and our police work closely with schools, universities and colleges to try and ensure that vulnerable members of the public are educated on the topic and understand the risks of becoming a money mule.
"Having said that we'd always welcome any further work nationally which would support this approach and bridge any gaps in intelligence.
"Some believe money muling to be a victimless crime, however this is not the case. By helping these criminal gangs launder money, you're helping fund things like drug and firearm distribution, human trafficking, child exploitation and other incredibly harmful crimes."
