This course will examine the money laundering process and common typologies and will provide a critical appreciation of international initiatives, including recent measures to counter the financing of terrorism. It will cover Commonwealth and State laws and the requirements for reporting of financial transactions and include an analysis of international anti-money laundering initiatives and comparative anti money laundering and confiscation regimes, and policy issues surrounding confiscation regimes. Consideration will also be given to the relationship between the development of anti-money laundering initiatives and the use by criminals of typologies in the context of globalisation; of cross border crime and corruption; and counter measures in developing economies.
Corporate and Commercial Law; Corporate, Commercial and Taxation Law; Criminal Justice and Criminology.
Recommended Prior Knowledge
By the time you have completed this subject, you should be able to demonstrate the following knowledge, skills and professional attributes:
- An understanding of anti-money laundering and confiscation processes and a familiarity with comparative anti-money laundering and confiscation regimes
- An understanding and critical appreciation of the issues surrounding Commonwealth and State anti-money laundering and proceeds of crime legislation
- A critical appreciation of international initiatives to counter money laundering and the financing of terrorism in the context of a global economy
- Money laundering and international initiatives: money laundering processes and typologies; the development of anti-money laundering initiatives; the international legal framework; combating the financing of terrorism; comparative anti-money laundering laws and confiscation regimes; Australian legal framework: the history and development of Australia's anti-money laundering regime; Commonwealth laws and institutions; laws and institutions in New South Wales
- Money laundering and the global economy: money laundering and terrorism; money laundering, corruption and trans-national crime; money laundering in developing and emerging economies
||Preparation and engagement in class
||Reading exercise, country study, sector study, subject of choice.
Gilmore, William C., Dirty Money: The Evolution of International Measures to Counter Money Laundering and the Financing of Terrorism, Third Edition, (France, Council of Europe Publishing: 2004)
Additional course materials will be available at the first class.