Money Laundering (Comisky)
Faculty
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| Ian Comisky Adjunct Professor of Law icomisky@foxrothschild.com |
Additional Information
Skills Training
Oral Presentations
Team Projects
Expository Writing
Grading
25% Participation,
75% Paper,
Other (A practice “review/exam" may/will be circulated ahead of Week 14 which, time permitting, may account for up to 10% of the final grade. If due to time constraints, the practice “review/exam” is not circulated, the paper will account for 75% of the grade.)
With Permission of Instructor
Class meets in person.
Course Continuity
Students are encouraged to stay home if you are ill or experience flu-like symptoms. If you miss a class for any reason, it is still your responsibility to make up the work missed.
I offer the following to students who miss class due to illness:
- Class sessions are regularly recorded. If you are absent due to illness or some other unavoidable circumstance, email me and I can send you an email with instructions for accessing the recording for the class session(s) you missed.
- I have asked for volunteers in the class who are willing to take and share their notes on a regular basis with others who are absent due to illness or some other unavoidable circumstance.
- When you are better, please make an appointment to meet with me and I will review/answer questions about what you missed.
Meeting Times/Location
W 4:30PM - 6:30PM
Tanenbaum Hall 253
Category
Seminar
Credits
3.0
The seminar focuses upon the primary U.S. Anti-Money Laundering (“AML”) statutes, 18 U.S.C. § 1956, 18 U.S.C. § 1957, and 18 U.S.C. § 1960, and amendments and statutory changes and additions by way of the USA PATRIOT Act, the USA PATRIOT Improvement and Reauthorization Act and the Anti-Money Laundering Act of 2020. The course will further focus upon the Bank Secrecy Act (“BSA”), as amended by the Anti-Money Laundering Act of 2020, and proposed and enacted regulations and dramatic current legal challenges to the AML and BSA regimes. Although the seminar is a survey course, the reading requirements are extensive for many of the classes and will require significant time to adequately prepare.
The seminar will review both domestic and extraterritorial application of the U.S. AML statutes. It will discuss emerging issues with respect to access to banking and other records (including virtual currency trading records) and Fourth Amendment challenges. It will further discuss the effect of recently enacted regulations on attorney due diligence requirements with respect to new and existing clients. The seminar will further review various reporting requirements, including suspicious activity reporting (“SAR”) by regulated institutions and proposals to require recordkeeping and, suspicious activity reporting, by categories of attorneys and accountants and other proposals to dramatically change the reporting regimes. The seminar will further discuss existing laws and regulations for virtual currency transaction reporting. The seminar will discuss the effect of these statutes, regulations, guidance, and initiatives will have on the attorney-client privilege and work product protection, constitutional and due process rights as well as customer privacy rights. The seminar traditionally presents guest speakers, including a federal appellate or district court judge, an assistant United States attorney or Department of Justice attorney, or other government official involved in the prosecution of money laundering or BSA violations, a bank/broker dealer/or mutual fund compliance officer, and/or one or more defense attorneys who concentrate their practice in the anti-money laundering or BSA area.
Business and Corporate Law Learning outcomes: Demonstrate a core understanding of business and corporate law; Perform legal analysis in the context of business and corporate law; Communicate effectively on topics related to business and corporate law; Demonstrate an understanding of the interconnection between the world of business and finance and that of business and corporate law, and how they affect other areas of law and society.
International and Comparative Law Learning outcomes: Demonstrate a core understanding of international and comparative law, both substantively and procedurally; Perform legal analysis in the context of international and comparative law; Communicate effectively on topics related to international and comparative law; Demonstrate an understanding of the role of international and comparative law, and their interconnection with domestic law.
Constitutional Law Learning outcomes: Demonstrate a core understanding of constitutional law; Perform legal analysis in the context of constitutional law; Communicate effectively on topics related to constitutional law; Demonstrate an understanding of constitutional law affects other areas of law.
Courts and the Judicial System Learning outcomes: Demonstrate a core understanding of both substantive and procedural issues in the operation of our legal system; Perform legal analysis in the context of procedural issues and the judicial process; Communicate effectively on topics related to procedure and the judicial process; Demonstrate an understanding of how procedural issues and the judicial process affect all other area of our legal system.
Criminal Law and Procedure Learning outcomes: Demonstrate a core understanding of criminal law and procedure; Perform legal analysis in the context of criminal law and procedure; Communicate effectively on topics related to criminal law and procedure; Demonstrate an understanding of the role criminal law and procedure play in society and their impact on other areas of law and society.
International Corporate and Trade Law
Administrative and Regulatory Law Learning outcomes: Demonstrate a core understanding of administrative and regulatory law and the administrative process, including the role of statutory authorization and work of administrative agencies; Perform legal analysis in the context of administrative and regulatory law; Communicate effectively on topics related to administrative and regulatory law; Demonstrate an understanding of the role administrative and regulatory law play in our legal system and in society as a whole.
Professional Responsibility and Ethics Learning outcomes: Demonstrate an understanding of how the law affects, and is affected by, the individual course topic; Perform legal analysis in the context of the individual course topic; Communicate effectively on the legal and other aspects of the individual course topic; Demonstrate the ability to use other disciplines to analyze legal issues relevant to the individual course topic, including economics, philosophy, and sociology, as appropriate.