The Bank Secrecy Act, Anti-Money Laundering Law Compliance, and Blockchain Technology case study (“Blockchain”), asks students to play the role of a Junior Lawyer in FinCEN (the Financial Crimes Enforcement Network), a bureau of the U.S. Department of the Treasury that safeguards against money laundering and other financial crimes. The case study asks students to assess and recommend whether FinCEN should take a position favoring the use of blockchain technology (an online, distributed ledger system) to help banks comply with costly and time-consuming anti-money laundering (AML) laws.
The case study provides background on the Bank Secrecy Act, AML laws, and the possible benefits and risks of employing blockchain technology for AML compliance.
Blockchain is used in a course on Financial Regulation and is helpful as a practical, hands-on component to a financial regulations or administrative law course
- Understand the regulatory structures in place to monitor and enforce financial crimes.
- Assess blockchain technologies and the viability of using these products in an AML compliance system.
- Be able to clearly articulate the arguments for and against using blockchain for AML compliance.
- Practice presentation and legal writing skills.
Financial Regulation, Government, Financial Technology, Finance and Banking, Financial Crimes
Geographic: United States
Industry: Government Agency, Financial Services
Event Year Begin: November 2016
To obtain accessible versions of our products for use by those with disabilities, please contact the HLS Case Studies Program at email@example.com or +1-617-496-1316.
Please note that each purchase of this product entitles the purchaser to one download and use. If you need multiple copies, please purchase the number of copies you need. For more information, see Copying Your Case Study.