Master in Anti-Money Laundering and Compliance
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Course Description
This programme equips students with advanced knowledge and understanding of Anti-Money Laundering (AML) and Compliance practices and objectives to help them consolidate the skills required for professional practice related to AML and Countering the Financing of Terrorism (CFT).
The course provides advanced knowledge on Money Laundering (ML) and Financing of Terrorism (FT) and how this affects the economic sectors and financial system of countries. Students will also learn how to combat Money Laundering (AML) the financing of terrorism (CFT) taking legislation and regulations into consideration.
The programme begins with addressing Money Laundering and Terrorism Financing Typologies to determine whether it is possible to identify trends in the different phases of money laundering or terrorism financing. Examples of topics include the use of shell companies, medium of exchanges, acquiring fiat money through illegitimate sources and the funding of criminal activity both directly and indirectly.
The programme then moves on to tackle Money Laundering and Terrorism Financing Threats from New Technologies; and to emphasise on an overall risk-based approach rather than a uniform wholesale approach of de-risking.
The course also addresses Risk-based approach for Financial Institutions where special emphasis is placed upon supervisors and supervised entities and their awareness regarding the money laundering and terrorism financing (ML/TF) risks in their country and the implementing of effective controls.
Furthermore, the course addresses the duties of firms and their employees in relation to preventing money laundering and terrorist financing and financial crimes in general. The assessment of risks relating to proliferation financing and how targeted financial sanctions diminish these risks is also explored within this programme.
The transparency of beneficial ownership and its importance in tax transparency, the integrity of the financial sector and law enforcement efforts are also tackled in this programme.
Moreover, the course addresses financial investigations and how the AML/CFT framework helps in contributing to their effectiveness.
Students will also explore what entails a strong and robust AML/CFT legislative and regulatory framework as well as the need for strong national and international cooperation for an effective implementation of anti-money laundering, counteracting funding of terrorism and targeted financial sanctions (AML/CFT/TFS) legislative framework as well as the importance of adhering to a risk-based approach.
Entry Requirements
Candidates who apply for this course must possess one of the following:
• Level 6 Degree related to one of the following areas: Law, Artificial Intelligence, Finance, Accounting, Insurance, Banking and Criminology, Governance, Business and Government Policy;
OR
• Level 6 degree not related to Law, Artificial Intelligence, Finance, Accounting, Governance, Business and Government Policy and a minimum of two years relevant experience (subject to interview by admissions board)
OR
• Level 5 Diploma or Higher Diploma and 4 years’ mandatory work experience in a supervisory or managerial role (subject to interview by admissions board).
In the case of mature students who do not possess all the formal required academic qualifications, then the RPL process could be applied such that if evidence of equivalent learning is found then the applicant could still be accepted in the course. Such RPL process will subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA Academy, so as to verify their experiences and prior learning.
Students whose first language is not English will be required to demonstrate English language capability at IELTS level 6.0 or equivalent.
Target Audience
This course is targeted at people within the financial and banking sector, legal sector, gaming sector, corporate services industry, Governance sector, Business sector, Artificial Intelligence sector, and other individuals seeking for professional and academic advancement in Anti-Money Laundering and Compliance.
Career Paths
The programme prepares for positions such as and not limited to:
• Compliance Supervisor/Manager/Officers
• Anti-Money Laundering Managers
• Money Laundering Reporting Officer and their deputies
• Law enforcement agencies and supervisory and regulatory authorities
• Managers with responsibilities for internal AML controls
• Risk Managers
• Director of Compliance
Modules
You are required to complete all 10 compulsory modules (60 ECTS), as well as the Dissertation (30 ECTS) to fulfil the requirements of this master’s degree.
If you stop here, you will get:
Postgraduate Certificate in Anti-Money Laundering and Compliance
Don’t stop now! Go for that Master’s Degree 🚀
If you stop here, you will get:
Postgraduate Diploma in Anti-Money Laundering and Compliance
Don’t stop now! Go for that Master’s Degree 🚀
Dissertation
🏁 Amazing! You’ve just achieved your Master in.
Master in Anti-Money Laundering and Compliance
How you’ll be assessed
The method of assessment is assignment-based.
The course comprises:
- 6 lectures per module;
- 3-hour lectures (evening);
- 12 hours of guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos;
- Self-study hours comprising research, reading and assignment work.
The course also includes additional, specialised support to help you write your Dissertation, including classes on Qualitative/Quantitative data analysis tools, as well as Dissertation Workshops.
Assessment
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.
Course Intake Dates
March 2024
Learning Outcomes
Learning Outcomes for Knowledge
The learner will be able to:
- Differentiate between Money Laundering and Terrorist Financing.
- Discuss which type of environment is required for improving AML/CFT effectiveness.
- Analyse the fundamentals of a risk-based approach and the importance of adhering to a risk-based approach.
- Explain why addressing financial inclusion and addressing the risks of de-risking are important.
- Illustrate how financial and non-financial institutions might be misused for the purposes of the potential breach, non-implementation, or evasion of PF-TFS.
- Appreciate the importance of targeted financial sanctions.
- Explain the use and function of financial intelligence.
- Demonstrate knowledge and understanding of the AML/CFT/TFS regulatory framework and the role and function of regulatory authorities.
- Identify any gaps in the AML/CFT/TFS legislative framework in comparison with the FATF recommendations and core issues.
- Discuss why information sharing is important.
- Examine the importance of the national and international cooperation.
- Explain how all of the above leads to the adoption of an effective AML/CFT framework.
Learning Outcomes for Skills
The learner will be able to:
- Critically review the benefits and disadvantages of new technologies with regard to AML/CFT.
- Adopt a risk-based approach versus a rule-based approach and thus adopting effective risk mitigating measures and controls.
- Assess the potential for risk within a business and analyse whether the supervisors’ approach to risk corresponds to the FATF Standards’ risk-based approach.
- Analyse, identify and report suspicious activity.
- Critically assess the consequences following non-compliance with AML legislation.
- Critically analyse the relationship between terrorism, terrorism financing and proliferating financing.
- Appraise the concept of beneficial ownership and identify beneficial owners.
- Critically examine the legal framework in Malta in line with the FATF technical recommendations and core issues and the national ML/TF/PF risks.
- Review the entire legislative process and identify and implement the factors which contribute to its effectiveness in addressing the international legislative AML/CFT technical requirements. .
- Determine whether the FATF standards are being effectively applied to information sharing taking into consideration the specific recommendations and the new publications with regards to the importance of the sharing of intelligence between the supervisory authorities and the law enforcement agencies.