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ISC comment on government sanctions and school fee payments from Russian banks

Posted on: 28 Feb 2022
Posted by: Julie Robinson

The ISC's chief executive has issued a comment in relation to recent government sanctions imposed on individuals and Russian banks - and what this means for schools.

Julie Robinson, chief executive of the Independent Schools Council, said: “The priority for all schools is the safety, wellbeing and education of their pupils. Decisions over sanctions are for the Government.

“Sanctions currently imposed on individuals and Russian banks mean schools must not accept payments of fees from these sources. They are encouraged to remain on high alert over suspicious payments and expected to raise Suspicious Activity Reports if they have any concerns over the provenance of the money they are receiving. Clearly, the support of the Home Office, National Crime Agency, NECC and other relevant authorities is hugely important.

“Associations representing independent schools work with these agencies to encourage vigilance against suspicious fee payments and ensure reporting is carried out as required under relevant laws and regulations, and the Independent Schools’ Bursars Association provides schools with guidance verified by legal experts to further support them. The work carried out by schools includes appropriate checks on the source of funds and associated background checks.”

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