Illicit Finance and Trade-Based Money Laundering (TBML) Executive Webinar
Instructors: John Cassara (former US law enforcement official and author), Lakshmi Kumar(Policy Director, Global Financial Integrity).
Anti-Illicit Trade Institute (AITI) at the Terrorism, Transnational Crime, and Corruption Center (TraCCC)
Schar School of Policy and Government
George Mason University
Course Dates: Oct. 20th, 2020 - Nov. 19th, 2020
Time: Tuesdays and Thursdays, 4:30pm-5:30pm EST
Early Birds $549/per person by September 20th;
Regular $599/per person
Government employee rate – Please email for discount code
Registration deadline: Oct. 18th, 2020
Credits: Participants will receive a Schar School TraCCC certificate of completion and earn 1.5 CEUs (Continuing Education Units). Please email for the CEUs application.
Admissions benefits: For participants who choose to pursue a graduate certificate or master's program at the Schar School. Upon successful completion of the TBML Webinar courses, the following benefits are available for Spring 2021 and Fall 2021:
- Waived application fee for Schar School graduate certificate and master’s programs
- $600 tuition discount applied to their first class at the Schar School, IF the student is admitted within one year of completing the webinar courses. Master’s students will also be considered for additional merit aid based on the strength of their application.
Online Course & Certificate
This online course on Illicit Finance and Trade-Based Money Laundering (TBML) is taught by two internationally-recognized experts on Anti-Money Laundering and Counter Terrorist Financing (AML/CFT), John Cassara (former US law enforcement official and author) and Lakshmi Kumar (Policy Director, Global Financial Integrity). The instruction will be in “real time” where students login to the virtual class on Mason's platform. Students that successfully complete this executive development webinar will receive a certificate from the Anti-Illicit Trade Institute of the Terrorism, Transnational Crime, and Corruption Center (TraCCC), Schar School of Policy and Government.
Rogue nations and terrorist nations bust sanctions to finance their criminality and acts of terror through numerous illicit trade activities and money laundering methods. Counterfeiters, human traffickers, and narcotraffickers are nimble and savvy financial entrepreneurs who manipulate incorporation transparency laws and the tools of globalization – technologies, transportation, trade and ecommerce – to launder their dirty money and reinvest such illicit funds in the legal economy. Cyber criminals exploit the dark web and encrypted communications to launder stolen virtual assets and cryptocurrencies across the digital world.
The International Monetary Fund (IMF) has estimated that money laundering comprises approximately 2 to 5 percent of the world’s gross domestic product (GDP) each year, or approximately $1.74 trillion to $4.35 trillion in 2019. Many experts believe that the actual magnitude of international money laundering is probably much higher depending upon what is included in the count in estimates by various international organizations.
Money laundering (illicit finance) and trade-based money laundering are threat multipliers that help criminals and threat networks finance greater harms and insecurity across communities around the world. The reality is that dirty money derived from illicit commerce remains the lifeblood of today’s kleptocrats, criminal organizations, and terrorist groups who engage in greed crimes such as human trafficking, wildlife trafficking, environmental and natural resource degradation and exploitation, illicit trade in counterfeit and pirated goods, illegal alcohol and tobacco, financial frauds, and a plethora of other crimes.
Money laundering is international in scope. Criminals and criminal organizations are attracted to the weak link. The lack of Anti-Money Laundering and Counter Terrorist Financing (AML/CFT) enforcement in one country can affect many countries, and many industries across borders.
Course Highlights and Features
This course will provide information on understanding how money laundering works, current issues, trends, and methodologies used by today’s bad actors – once having accumulated money from an array of illicit activities – who hide, disguise, and launder so that authorities cannot determine where the dirty money comes from. The instructors will share practical insights on what works and what does not by examining effective international standards such as those by the Financial Action Task Force (FATF), AML measures, best practices, and case studies in detecting and preventing the laundering of dirty money. This course will also focus on trade-based money laundering (TBML), underground financial systems, black market exchanges, new payment methods (NPMs), and other illicit finance processes, vehicles, and methods that enable bad actors to disguise and clean their dirty money.
The training webinar is aimed for professionals in all sectors and industries impacted by illicit finance and TBML.
Topics covered in this five-week course over 10 sessions including the following:
Week 1 (Oct 20th and Oct 22th):
i. Introduction to Money Laundering (Understanding Illicit Finance)
ii. Illicit Financial Flows
Week 2 (Oct 27th and Oct 29th):
iii. Trade Based Money Laundering (TBML)
iv. Misuse of the International Gold Trade
Week 3 (Nov 3rd and Nov 5th):
v. Underground Financial Systems
vi. Black Market Exchanges
Week 4 (Nov 10th and Nov 12th):
vii. Free Trade Zones (FTZs)
viii. Offshores and Safe Havens (Illicit Cash)
Week 5 (Nov 17th and Nov 19th):
ix. TBML: Government and Industry Countermeasures
x. Practical Exercises
Throughout the five weeks, students will be challenged to work through the various methodologies to think of ways to develop potential solutions to target the numerous money laundering threats using the materials and instruction provided throughout the course.
[60 minutes per session; two (2) sessions per week for five (5) weeks. Fall 2020]
About the Instructors:
John Cassara began his 26-year government career as a covert intelligence officer during the Cold War. He later served as a Treasury Special Agent in both the U.S. Secret Service and US Customs Service where he investigated money laundering, trade fraud, and international smuggling. He was an undercover arms dealer for two years. Assigned overseas in the Middle East, he developed expertise in money laundering, value transfer, and underground financial systems. He also worked six years for the Treasury’s Financial Crimes Enforcement Network (FinCEN) and was detailed to the Department of State’s Bureau of International Narcotics and Law Enforcement Affairs. Mr. Cassara's final assignment was with the Treasury's Office of Terrorism and Financial Intelligence (TFI). Since his retirement, he has lectured in the United States and around the world on a variety of transnational crime issues. He has been a consultant for government and industry, and is currently on the Board of Directors of Global Financial Integrity. Mr. Cassara has authored and co-authored several articles and books. His latest publications include Trade Based Money Laundering: The Next Frontier in International Money Laundering Enforcement (Wiley 2016) and Money Laundering and Illicit Financial Flows: Following the Money and Value Trails (Amazon/KDP 2020). More information is available at www.JohnCassara.com.
Lakshmi Kumar is the Policy Director at Global Financial Integrity (GFI), a Washington, D.C.-based think tank specializing in research, advocacy, and advisory services. Ms. Kumar works on issues of illicit finance and trade, and the vehicles, systems, and institutions that facilitate movement of illicit money across borders. She has spoken as a subject matter expert on issues including illicit gold trade, trade-based money laundering, kleptocracies, the abuse of anonymous shell companies, and the integrity risks of Sovereign Wealth Funds. Ms. Kumar has spoken publicly on these subjects at Capitol Hill, the OECD, the Atlantic Council, the Carnegie Endowment for International Peace, and various other think tanks in D.C., as well as venues in Africa and South America. As a legal expert, she has contributed through her authorship to reports of institutions including the United National Economic Commission of Africa and the Carnegie Endowment for International Peace. Prior to joining GFI, Ms. Kumar was a lawyer and policy professional in India, working with governments and regulatory agencies across South Asia, East Africa, and Eurasia to investigate money laundering and terrorist financing risks in their financial systems.
Interested in this program? Contact Sisi Jou at email@example.com.