Money laundering by organised crime is increasing worldwide, and from 2013 a new articulated course pathway offered by Charles Sturt University (CSU), in partnership with an international US organisation, will provide specialist training to the banking industry, law enforcement, and financial regulators to fight this trend.

 

Dr Hugh McDermott, a senior lecturer in law enforcement and course director of the newly-launched Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) Postgraduate Program at CSU’s Australian Graduate School of Policing and Security, says the program consists of the Graduate Certificate, Graduate Diploma, and Master of Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF).

 

“The signing of a Memorandum of Understanding (MoU) this week between CSU and the 13 500-member US-based Association of Certified Anti-Money Laundering Specialists (ACAMS) will enable CSU to provide graduates with the detailed knowledge and skills necessary to fight financial crime in a range of criminal and terrorist activities,” Dr McDermott said.

 

“It doesn’t matter what the source of illegally derived funds might be – whether from drugs, prostitution, gambling, charity fraud  or people smuggling – the new course will equip those at the frontline of fighting organised crime and terrorist financiers to be able to identify, track and halt the transfer and laundering of illegally derived funds.

 

“Charles Sturt University has joined with ACAMS to provide postgraduate students with the needed guidance and materials so that each student can successfully complete the qualification examination and accreditation to become a Certified Anti-Money Laundering Specialist (CAMS) as part of the course. This means students will graduate with the dual CSU and CAMS qualification, thus greatly increasing their knowledge, expertise, and employability in this growing industry sector.

 

“There is no similar Master program being taught at an Australian university or any other English-speaking university overseas. Postgraduate students from Canada, Tanzania, Switzerland and India have already enrolled in the program, and the course will service AML/CTF prevention/compliance officers, the finance industry, banking, law enforcement, regulatory agencies and other related industries in Australia and internationally.”

 

The majority of the program is taught by distance education online, with interactive sessions and lectures being provided by academic, law, criminal justice, and industry experts in the AML/CTF field.

 

The CSU program was developed in consultation with Australian and US law enforcement and financial regulators, with significant input from the finance and banking industry in Australia and the Asia-Pacific.