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Master of Arts in Financial Integrity: Combatting Money Laundering

 

Master of Arts in Financial Integrity: Combatting Money Laundering

Start date: Stay tuned for the expected go ahead announcement in April 2022

Price: $24,200 (The tuition for the programme is charged at $24,200, reflecting a 53% tuition scholarship applicable to ILI-SACE MAFI enrolled students).

The quoted fee does not include any costs for travel, accommodation, or meals during in-person sessions.

Application Requirements:

There is a two-step application process which starts with a submission, to admissions@ili-sace.org, of:

  • your CV
  • copies of your academic qualifications
  • a personal statement of approximately two pages -reflecting your strong commitment to, and interest in, financial integrity, anti-money laundering or related field
  • TOEFL (or equivalent) score if required

Should your first application step qualify, you will then be invited to complete an online application form with CWRU. If you are accepted into the programme you will be given an offer of admission.  Please note that there is a non-refundable fee of US $500 required when you accept the offer of admission. This fee will be applied to your tuition. 

Mode of delivery: Classes will meet via Zoom as mandated by the Coronavirus Pandemic and as soon as will be possible, via in-person sessions in Johannesburg, South Africa*. There will also be one course offered in Cleveland, Ohio, which students may attend in-person or remotely, and that will feature a cultural tour of Cleveland for in-person attendees.

*One of the unique characteristics of the MAFI programme is in-person instruction, which allows our students to interact with leading practitioners and academics in the field, both inside and outside of the classroom.  We have made the difficult decision to begin the August 2022 MAFI cohort remotely due to the Coronavirus Pandemic. Courses will be taught by the same industry leaders. However, at least at first, you will meet them on Zoom.

Please rest assured that as soon as conditions permit, we will resume in-person instruction, and will give you plenty of notice before we switch from remote to in-person instruction.

APPLY HERE

INTRODUCTION

The ILI-South African Centre for Excellence (ILI-SACE) and Case Western Reserve University School of Law (CWRU) are pleased to jointly offer the Master of Arts in Financial Integrity (MAFI) programme on the African continent.   

The one and a half year programme – versions of which are also currently held in The United States and Saudi Arabia – provides students with a unique, comprehensive and practical education in all aspects of preventing illicit international financial flows. The ILI-SACE MAFI Africa programme is built around the same successful U.S. programme and is additionally customised to include African perspectives, practices and trends on topics covered, including anti-money laundering (AML), combatting the financing of terrorism, and targeted sanctions, law, policy, compliance and risk management.

The field of financial integrity is diverse, encompassing international standards and domestic rules for combatting money laundering, terrorist financing, weapons proliferation, drug trafficking, human trafficking and other nefarious conduct that can be funded through the misuse of financial systems. MAFI students graduate ready to work in all sectors of the field.

On successful completion of the ILI-SACE - CWRU MAFI programme, students are issued a degree from CWRU and an ILI-SACE certificate.

FOR WHOM? SKILLS ACQUIRED? GOAL OF THE PROGRAMME

The ILI-SACE - CWRU MAFI will give you an in-depth, 360-degree understanding of anti-money laundering and financial integrity. You will study administrative law, criminal law, banking law, compliance and risk management, the nature of international monetary flows and a host of other topics necessary to a comprehensive understanding of financial integrity. The curriculum incorporates an international approach, offering for study examples and best practices from around the world while ensuring a focus on experience in African countries.

Participants may attend this course remotely or in-person in Cleveland (subject to COVID-19 restrictions)

FACULTY

The ILI-SACE - CWRU MAFI degree programme is taught by leading academics and practitioners in the field of financial integrity from international and domestic organizations and authorities around the world, who are recognised leaders in the fields of anti-money laundering, counter-terrorism financing and sanction compliance protocols.

As a student in the MAFI programme, you will interact online or in-person with these leading practitioners and academics, including current and former executives from major banks, other financial institutions, and consulting firms, multinational corporations, the International Monetary Fund, the Financial Action Task Force, and various governmental agencies from different parts of the world.

This programme is taught primarily in a highly interactive, face-to-face format both in person and remotely (online). Students gain exceptional expertise in all aspects of anti-money laundering law, policy, compliance, and risk management. The ILI-SACE - CWRU MAFI degree programme emphasizes professional decision-making and critical analysis. Students to the programme graduate ready to work in the field of financial integrity across all sectors, including international organisations, government, law enforcement, banking, business and consulting.

The August 2022 MAFI cohort will start remotely due to the Coronavirus Pandemic and as soon as conditions permit, and with sufficient notice to students, in-person instruction in Johannesburg, will resume.

Applying for individual courses in the ILI-SACE - CWRU MAFI Programme?

Students who are interested in attending specific courses individually rather than applying for the one and a half year master’s degree programme may apply as non-degree seeking students and receive a grade and document of completion for any individual course taken. Participants who obtain a grade of B- or higher will receive credit for the course which will exempt them from taking the course again if they apply to, are accepted by, and begin the MAFI degree programme within five years of completing the course.

Tuition for individual courses: US $2,200

Admission requirements are the same as for the ILI-SACE - CWRU MAFI degree programme.

To apply, complete this form and email it along with a copy of your CV, personal statement of approximately 2 pages, and copies of your academic qualifications to admissions@ili-sace.org. General enquiries admin@ili-sace.org

Introduction to Financial Integrity (4 credits)
The course will begin with a basic orientation to the Master of Arts program, and follow with faculty presentations on research, writing and plagiarism. Next, the course will provide an overview of how money is “moved” and why, and the basics of the laundering of criminal proceeds. Next, it introduces the Financial Action Task Force (FATF) and its history. It then addresses the entire system of global antimony laundering and combatting the financing of terrorism and proliferation policies and practices—that is, what constitutes “financial integrity.” The purpose of this introductory course is to cover the basics of these policies and procedures and, most importantly, how they fit together to form a comprehensive program. Each will be examined in depth in the remailing courses in the Master of Arts program.
Financial Institutions, Supervision, and Risk Management (4 Credits)
This course will examine in detail measures that banks and other financial institutions are required to implement financial integrity preventive measures. It will begin by putting Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) regulation and supervision into the context of general financial institution regulation and supervision other than anti-money laundering, all of which had predated AML/CFT requirements. It will then turn to issues in risk analysis and risk management.
Preventitve Measures (4 Credits)
This course covers the basics of financial integrity regulation and supervision, with a focus on customer onboarding and acceptance, record keeping, customer activity monitoring, suspicious activity report preparation, internal controls, including independent testing, and the supervisory process.
Sanctions & Preventitive Measures Compliance Programs (4 Credits)
This course continues the examination of preventive measures by examining targeted financial sanctions, the role of the U.S. Department of Treasury’s Office of Foreign Asset Control (OFAC) and the creation and implementation of an effective preventive measures compliance program, including a review of requirements for AML/CFT programs, policies, procedures and internal controls, the designation of an AML compliance officer, training of appropriate officers and employees, and an independent AML audit. It will then turn to common deficiencies in such programs at every level across a variety of financial institutions and sectors. Finally, it will examine in depth the case of trade-based money laundering.
Operational & Law Enforcement (6 Credits)
This course will begin with an overview of the criminal investigative, prosecutorial, and asset recovery process in the United States, with brief references to other national systems. The course will cover the basics of the crime of money laundering and of selective predicate crimes (or in U.S. lingo, specified unlawful activities). It will then examine the operations of national financial intelligence units in analyzing suspicious activity reports and other data and information. It then reviews the investigation and prosecution of financial integrity crimes, including the use of civil process. The course concludes with discussions of cases.
Blockchain and Artificial Intelligence in Compliance (2 Credits) 
This course will cover the rise of technology use in compliance and risk disciplines impacting the financial crimes industry. The focus will be on use of Blockchain, artificial intelligence and introduction of new products such as cryptocurrency, initial coin offerings and crypto asset backed offerings. These new technologies lend increased complexity in the role of compliance when dealing with products and technology without an established roadmap. Content and discussions will examine the changing demands on compliance officers and growing reliance of technology in operational execution of the AML/CFT program. It will review the disparate guidance globally which make operational implementation and compliance advice challenging in a fast-paced financial services industry. The takeaway will be to ensure that students are able to apply financial integrity principals as they navigate through the innovative stages. 
International Coorperation in Civil and Criminal Matters (4 Credits)
This course investigates why and how individual instances of money laundering and terrorism financing frequently trigger the need for multi-jurisdictional cooperation and assistance. To investigate and prosecute such cases effectively, national government authorities must request and provide information and evidence of illegal activity to the authorities of other nations, as well as seize and confiscate criminal proceeds and instrumentalities. Procedures for such international cooperation can be complex, but their effective implementation is essential for curbing transnational money laundering and terrorism financing.
Capstone Project or Thesis (4 Credits)
Students have a choice to complete either a Capstone Project or a Thesis.  In many ways they are the same. They both represent a scholarly effort of high quality. Both should clearly state a problem or issue to be addressed; analyze the nature of the problem or issue--including a review of the existing literature and a statement as to what additions are needed adequately to understand the problem or issue; present an analysis that fulfills the missing knowledge; and state a conclusion. The primary difference lies in scope and focus; a capstone project addresses a problem the student has encountered in the student’s professional practice and concludes with a specific recommendation to address that problem; while a thesis is an academic-focused research project with broader applicability that contributes a new perspective to the field that goes beyond a single problem or issue in practice. Students will, in consultation with faculty, be expected to identify a topic by the end of the first year; an advisor will be assigned at that time to help guide the capstone or thesis project. Following the conclusion of the MAFI course of study, students must present the essence of the capstone or thesis to fellow students and a panel of faculty. The entire process should be enjoyable as well as rewarding.