An Introduction to Money Laundering and Funding of Terrorism
6 ECTS
An Introduction to Money Laundering and Funding of Terrorism
Get 70% back via Tax Credit
Module Description
This module raises awareness of the methods used in money laundering and the financing of terrorism. It is designed to meet the demands placed on anti-money laundering (AML) and countering the financing of terrorism (CFT) practitioners through a focused approach towards addressing these issues.
Students will learn about the various techniques and strategies used in money laundering and terrorist financing, as well as the legal and regulatory frameworks designed to combat these activities.
By the end of the module, students will be equipped with the knowledge and skills necessary to effectively contribute to AML/CFT efforts in their professional roles.
Entry Requirements
Candidates who apply for this course must possess the following:
- a qualification at MQF Level 4 (one A-level or equivalent in any subject);
AND
- a pass in English Language and Mathematics at MQF Level 3 (O-level or equivalent).
Target Audience
- This programme is targeted at people within the financial and banking sector, as well as other individuals seeking professional and academic advancement in AML and compliance.
Module / Unit Instructions
The proposed structure comprises a blended approach promoting the building of a community of practice via peer-to-peer learning. The structure uses primarily two dimensions of teaching-learning modes:
- Face to Face sessions
Face-to-face sessions include lectures, tutorials, discussions, presentations and workshop activities promoting peer-to-peer learning.
- Online Learning Activities
Online learning activities incorporate tutorials and asynchronous discussions. These may consist of active interaction, participation and contributions in fora discussions, sharing resources and self-reflection exercises. Learners also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.
How you’ll be assessed
The course comprises:
- Evening classes for part-time courses.
- Classes held throughout the day for full-time courses.
- Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
- Self-study hours comprising research, reading and assignment work.
Assessment
Assessment is carried out via two mandatory components:
- Assessment 1
- Assessment 2
The programme includes different forms of assessment which allow for and promote students’ critical engagement. The 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.
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Distinguish accurately between Money Laundering and the Financing of Terrorism.
- Analyse the global landscape of cryptocurrency services and how it can be influenced by existing regulations.
- Acquire in-depth understanding and knowledge of the UNSC 1988 Sanctions regime and mechanisms, as well as practicing the listing and delisting processes.
- Be able to apply the international framework underpinning the money laundering and financing of terrorism aspect.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Discuss the impact of money-laundering and terrorist financing.
- Explain the three stages of Money Laundering.
- Understand what the principal uses, and sources are of money by terrorist organisations.
- Identify fundamental differences between Money Laundering and Terrorist Financing.
- The nature of Money Laundering and Funding of Terrorism.
- How is money laundered.
- Define financing of terrorism and the difference between money laundering.
- Cryptocurrencies and Anti-Money Laundering.
- The Financial Action Task Force recommendations.
- Implementation of the FATF recommendations.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Assess the importance of anti-money laundering and counter terrorist financing and the main elements of both offences, together with their distinguishing features.
- Examine the role of the financial intelligence unit and supervisory authorities.
- Appreciate how supervision is carried out and how the various supervisory authorities interact in carrying out AML/CFT regulation.
- Be able to relate to and extract information from the main international bodies dealing with AML/CFT.
Module-Specific Digital Skills and Competences:
The learner will be able to:
- Navigate through the online learning platform to benefit from assignments, discussion boards, literature, tutorials etc.