Outline

Overview

International financial crime occupies a leading place on the international governance agenda. It has a devastating impact on national economies, international security and human development. This unit examines key international financial crimes such as investment fraud, corruption, tax evasion, money laundering and terrorist financing. Students gain an understanding of how these crimes are committed, detected and prosecuted. They analyse the changing regulatory environment and the new risks facing businesses and the professions. The role of bank secrecy and tax havens in facilitating financial crime is also studied. There is a special focus on the prevention of financial crime, and the regime for tracing, freezing and recovery of illicit assets. The unit draws on case studies from Australia, the United States, Europe and Asia so as to gain a better appreciation of the national and international responses to international financial crime.

Unit details and rules

Unit code	CLAW6031
Academic unit	Accounting
Credit points	6
Prohibitions ?	None
Prerequisites ?	None
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	David Chaikin, david.chaikin@sydney.edu.au
Lecturer(s)	David Chaikin, david.chaikin@sydney.edu.au

Type	Description	Weight	Due	Length
Monitored exam ?	Final exam Hypothetical problems and multiple choice questions.	30%	Formal exam period	80 minutes
Outcomes assessed:
Assignment	Assignment Research exercise	40%	Week 11 Due date: 12 May 2023 at 23:59 Closing date: 22 May 2023	3,000 word research paper
Outcomes assessed:
Presentation	Group Presentation n/a	20%	Weekly	n/a
Outcomes assessed:
Assignment	Assignment number 2 Students submit individual write-up within 2 weeks of their presentation	10%	Weekly	500 words
Outcomes assessed:
= group assignment ?

Assessment summary

The Final Exam will provide students with an opportunity to demonstrate their critical analysis skills through short hypothetical problem(s) based on material in weeks 8-12, and test students’ knowledge of the entire course through multiple choice questions. The exam will be supervised or monitored and tested individually. It will be an open book exam with students permitted to consult the textbook, power points, weekly problem questions and answers, and any other material.

The Assignment is a research exercise where students will choose 1 of 6 pre-digested topics covering subject matter areas presenting current challenges in international financial crime. In answering the research question students will be required to use at least three reliable academic sources, including a compulsory text which will be supplied. The maximum number of words will be 3,000 words which will not include references or the bibliography.

The Group Presentation will be done weekly during the tutorial and will consist of a presentation on a news topic or press release which is current, that is less than 3 months old. Each student will be expected to speak for up to 5 minutes and produce their own power point as part of the group presentation.

The Assignment number 2 will consist of individual students writing a 500-word descriptive statement of the content of their contribution to the group presentation. This will allow students to demonstrate their individual understanding of the significance of the news item.

More detailed information on each of the three assessment items, including instructions and general marking criteria, will be published on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Distinction	75 - 84	Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Credit	65 - 74	Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Pass	50 - 64	Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

For all the late submissions after the due date not covered by an approved special consideration) or submitted after the extension granted under a special consideration, a penalty of 5% of the maximum awardable marks will be applied for every calendar day up to and including ten calendar days after the due date. The penalty will be calculated by first marking the work, and then subtracting 5% of the maximum awardable mark for each

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction to International Financial Crime	Lecture and tutorial (3 hr)
Week 02	Cash, Cryptocurrencies and Criminal Offences	Lecture and tutorial (3 hr)
Week 03	Money Laundering Risks and Typologies	Lecture and tutorial (3 hr)
Week 04	Alternative Remittances, Terrorist Financing and Sanctions	Lecture and tutorial (3 hr)
Week 05	Regulation of Money Laundering	Lecture and tutorial (3 hr)
Week 06	Regulation of Money Laundering	Lecture and tutorial (3 hr)
Week 07	Money Laundering Liability	Lecture and tutorial (3 hr)
Week 08	Insider Trading	Lecture and tutorial (3 hr)
Week 09	International Fraud and International Cybercrime	Lecture and tutorial (3 hr)
Week 10	Transnational Corruption	Lecture and tutorial (3 hr)
Week 11	Tax Crimes and Financial Secrecy	Lecture and tutorial (3 hr)
Week 12	Extraterritoriality and International Co-operation	Lecture and tutorial (3 hr)
Week 13	Revision workshop	Lecture and tutorial (3 hr)

Attendance and class requirements

Lecture recording: All lectures are recorded and will be available on Canvas for student use. Please note the business school does not own the system and cannot guarantee that the system will operate or that every class will be recorded. Students should ensure they attend and participate in all classes.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit are available on Canvas.

David Chaikin (ed) (2023) Source book for International Financial Crime

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. demonstrate an integrated understanding of key concepts, techniques and trends in international financial crime and the challenges and opportunities involved in applying this knowledge in a business context
LO2. engage in critical thinking and question, assess and respond independently and creatively to assumptions, propositions and debates within one or more fields of business practice
LO3. identify and diagnose complex and unfamiliar problems in international financial crime, and to use the evidence and findings generated to formulate strategically appropriate solutions within global business practice
LO4. develop and demonstrate persuasive communication skills and use a range of communications strategies to reach agreement with others about appropriate responses to complex and unfamiliar problems within international financial crime
LO5. develop skills to produce a written report on an international financial crime problem through group interactions, including assignment of component tasks to individual students and consolidation of individual contributions to the final report.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered.

Additional information

Business School Policies

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

CLAW6031: International Financial Crime

Semester 1, 2023 [Normal day] - Remote

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect