Master of Arts in Financial Integrity Residential Program
In 2016, Case Western Reserve University School of Law launched a new and unique Master of Arts in Financial Integrity (MAFI) program designed for those involved or interested in implementing policies related to: anti-corruption, anti-money laundering, counter-terrorism, counter-proliferation and sanction compliance. Increased scrutiny of anti-money laundering policies and practices by international organizations such as the Financial Action Task Force, International Monetary Fund, and the World Bank, as well as by domestic compliance authorities and law enforcement has resulted in a vast increase in demand for experts by both the private and public sectors.
The Master of Arts in Financial Integrity (MAFI) residential track is administered by the Financial Integrity Institute at the School of Law at Case Western Reserve University. This full-time program encompasses face-to-face instruction and a small class size to empower interaction with academic pioneers and industry leaders. Students participate in practical problem-solving and thesis research roundtable discussions throughout the course of the MAFI program. The thesis research defense is held in the final Semester. This residential program requires classroom attendance and participation. Therefore, remote or distance learning is not permitted. Classes are scheduled in the regular academic day alongside courses for J.D., LLM, and SJD students. All classes will be weekday courses. This is a traditional, residential, graduate degree program.
MAFI is taught by leading academics and practitioners in the field of financial integrity from international organizations and domestic authorities around the world. A professional Advisory Committee, chaired by the former Executive Secretary of the Financial Action Task Force, oversees the design and implementation of the course of study. This program is designed to provide crucial training. A key part of the program is a supervised thesis research project that addresses a current problem in the student’s practice area to be presented to a panel of senior regulatory and law enforcement officials.
Students will gain exceptional expertise in each aspect of anti-corruption and anti-money laundering, preventive measures, compliance, and investigation and prosecution. MAFI emphasizes development of professional decision making and critical analysis skills in academic and practical environments.
MAFI Applicants must have a BA or equivalent degree and professional experience in financial integrity or a related field.
Conditional admission is offered to students whose academic credentials are strong, but who need more time to improve their English. Special admission is offered to students who academic credentials are strong, but who need intensive support and education to improve their English to satisfactory levels to complete the MAFI program. Students can improve their English at ELS Cleveland, located on the Case Western Reserve University campus. Graduation from ELS is accepted in lieu of TOEFL or IELTS scores.
Special Admission with the requirement to attend ELS Cleveland and/or Summer Language and Law Institute*
Graduation from ELS Level 109
Conditional Admission with the requirement to attend ELS Cleveland and/or Summer Language and Law Institute**
Graduation from ELS Level 110
TOEFL 90 and above
IELTS 7.0 and above
Graduation from ELS Level 111
Successful completion of 30 credit hours including defense of a thesis research project.
First Semester (12 credits)
LAWS 3501 Introduction to Financial Integrity (4 hours)
This course will examine the basic criminology of predicate crimes to money laundering and terrorism financing from both theoretical and empirical perspectives. Following an overview of the basics of the study of criminology and research in the social sciences, the course will review how these theoretical insights might apply to five predicate crimes: narcotics trafficking, corruption, human trafficking, and terrorism. Specific methodologies of laundering and terrorism financing will be reviewed and discussed.
LAWS 3502 Preventive Measures (4 hours)
This course will examine in detail measures that banks and other financial institutions are required to implement financial integrity preventive measures. It will focus on risk assessment, customer on boarding and acceptance, record keeping, customer activity monitoring, suspicious activity report preparation, internal controls, and the supervisory process. Risk assessment techniques will be emphasized. The course will also review the FATF preventive measures standards and methods of compliance assessments. A sampling of key national laws and regulations, including those of the United States, will be included.
LAWS 3503 Operations and Law Enforcement (4 hours)
This course will examine the operations of national financial intelligence units in analyzing suspicious activity reports and other data and information and in creating actionable intelligence from that information. It will then review the investigation and prosecution of both criminal and civil prosecution of financial integrity crimes. The course will also review the FATF operational and law enforcement standards and methods of compliance assessments. A sampling of key national laws and regulations, including those of the United States, will be included.
Second Semester (14 credits)
LAWS 3504 International Cooperation in Civil and Criminal Matters (4 hours)
This course will examine in detail how financial intelligence units, investigators, prosecutors, and investigative judges/magistrates cooperate with officials of other jurisdictions in identifying possible financial integrity crimes, investigating and prosecuting those cases, and recovering assets that are candidates for freezing or confiscation. The course will also review the FATF standards for cooperation in civil and criminal matters and methods of compliance assessments, relevant U.N. conventions, model laws and regulations, and a sampling of key national laws and regulations, including those of the United States.
LAWS 3505 Building and Implementing an Effective Preventive Measures Compliance Program (4 hours)
The course will examine specific problems that arise in building an effective preventive measures program. In addition to an in-depth examination of selected problems in designing and implementing preventive measures, the course will cover audits, inspections, on-site examinations, and sanctions. It will rely primarily on the presentation and discussion of case studies in each critical area of an effective compliance program, with a focus on the banking sector.
LAWS 3506 Building and Prosecuting Criminal and Civil Integrity Cases (4 hours)
The course will examine specific problems that arise in building and prosecuting financial integrity cases. In addition to an in-depth examination of selected problems in building and prosecuting cases, the course will cover problems in asset tracing and recovery and will rely primarily on the presentation and discussion of case studies in each critical area of investigation and prosecution.
Elective (2 hours)
Students will have to enroll in one elective course.
LAWS 3506.1 Selected topics in customer acceptance and transaction monitoring systems
This course will consider the use of automated customer acceptance and transaction monitoring systems, as well as follow-up investigations by internal FIUs. It will examine key issues in data base formation, including web-based text recognition and analysis, link analysis, and different forms of statistical discriminant and regression analysis, and forms of data presentation. The course will examine current vendor products. The course will also make use of case studies.
LAWS 3506.2 Selected topics in national financial intelligence units
This course will consider the use of automated systems for analyzing suspicious transaction reports and other data to develop actionable intelligence, as well as follow-up investigations by national FIUs. It will examine key issues in data base formation, including web-based text recognition and analysis, link analysis, and different forms of statistical discriminant and regression analysis, and forms of intelligence presentation. The course will examine current vendor products. The course will also make use of case studies.
LAWS 3506.3 Mutual Evaluations
The course will cover the process of assessment compliance with the Financial Action Task Force's 40 Recommendations by use of the FATF's Methodology of Assessment. It will include all aspects of compliance assessment, from initial self-assessment questionnaire preparation to final discussion of the draft assessment at the FATF/FSRB Plenary.
LAWS 3506.4 Anti-money laundering and the financing of terrorism and proliferation: theories of global justice
The course will focus on practical and theoretical issues of global justice as they pertain to anti-money laundering and combating the financing of terrorism. What are our obligations to international justice? How do they influence financial integrity law? The course will consider the normative basis of jurisprudence, comparing legal positivism to natural law theory. Next, the course will look at theories of global justice suitable to answer normative questions on what law should aim at. The remainder of the course will consider practical issues that come into play with financial integrity law, such as corruption, poverty, distributive justice, human rights, violence, and war.
Third Semester (4 credits)
Thesis Research Project and Defense (4 hours)
During this third semester students will be involved in intensive research and writing on a topic of their choosing in the area of financial integrity. Students will meet regularly with their thesis advisor as they write their thesis project. Students must successfully complete, present and defend their thesis paper in order to graduate.
*Special Admission candidates must successfully complete English language programs and demonstrate sufficient English competency to gain final admission to the MAFI degree program. Candidates may require additional ELS or other programs to gain final admission.
**Conditional Admission candidates must successfully complete English language programs and demonstrate sufficient English competency to gain final admission to the MAFI degree program.