Anti-Money Laundering

MQF Level 4

6 Credits (ECTS)

Anti-Money Laundering

Start
October 2024
Module Type
Elective
Price
€300
ECTS Credits
6 Credits (ECTS)
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Get 70% back via Tax Credit

€210 refund on this module

Module Description

In this course, learners will acquire knowledge in the major areas related to anti-money laundering and counter terrorist financing. T

he focus is on developing a practical understanding of modern practices used to identify suspicious transactions and activities.

The course places particular emphasis on current legislations and regulations, both from an EU perspective and from a local standpoint when applicable.

This approach aims to enhance the students’ understanding by providing relevant and up-to-date information.

By the end of the course, learners will have a solid grasp of anti-money laundering and counter terrorist financing practices, enabling them to contribute effectively to combating financial crimes..

Entry Requirements

Candidates who apply for this course must possess a pass in English Language* and Mathematics at MQF Level 3 (‘O’ Level or equivalent). 

*Students whose first language is not English will be required to demonstrate evidence of an adequate level of English proficiency.  

 

Target Audience

This course is targeted at:  

  • Candidates wanting to improve their employability opportunities; 
  • Candidates wanting to progress to higher qualifications in the areas of management. 

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:

1. Face-to-face sessions: 18 hours

2. Online Learning Activities: 12 hours

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.

The tutor provides continual support during both teaching -learning modes by providing information, readings and tasks relevant to the module in question.

The tutor provides continuous formative feedback as an on-going guidance during the student’s learning experience in preparation for their summative assessment.

How you’ll be assessed

Assessment of each module consists of two assignments, each carrying a weighting as below:

a) One Formative assignment carries 20% of total module mark achieved. b) One Summative assignment carries 80% of total module mark achieved.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in both the formative and the summative assignment.

The overall grade achieved for each module is calculated as the sum of: · 20% of the mark achieved for formative assignment; and · 80% of the mark achieved for the summative assignment.

All assignment tasks of both formative and summative assessment aim to provide the learner an opportunity to produce evidence of his/her competences aligned to the learning outcomes of each individual Module.

Assessment

a) Formative assessment tasks are provided in the form of structured online discussions that support learners in their development throughout all of the modules studied.

Such discussions are facilitated and monitored by lecturer who provides students with constructive feedback to help them improve and prepare for summative assignment and dissertation.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in the formative assignment.

Formative assessment tasks will contribute to the student’s final mark to acknowledge their work and give chance to improve.

This method allows students to 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.

b) Summative assessment is done via one assignment at the end of each module. The mode of assessment varies and may include in-class assignments, and home-based written assignments.

The recommended assessment tool for this module is an essay title or case studies based on relevant real-life scenarios.

Word count range: 1500 ± 10%

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in summative assignment.

Assignment
Discussions

Module Intake Dates

October 2024
Price
€300

Additional Info

Reading for the entire Foundation Certificate in Management as presented in this brochure costs €1,500.*

Upon successful completion of this course, students will be eligible for a 70% refund of the cost through the ‘Get Qualified’ scheme.**

Due to the modular structure of the course, you may also opt to take individual modules as stand-alone. The entry requirements still apply.***

*Prices are applicable to students who reside in Malta at the time of applying.

**Terms and conditions apply.

*** For the price of individual modules, please contact the IDEA Academy team.

Learning Outcomes

Competences:

At the end of the module/unit the learner will have acquired the responsibility and autonomy to:

  • Identify the difference between source of wealth and source of funds; between simplified due diligence and enhanced due diligence and between Non-Reputable Jurisdictions and High-Risk Jurisdictions.
  • Understand the role of the Financial Intelligence Analysis Unit (FIAU) and main international bodies in this space.
  • Recognise the obligations arising under the Prevention of Money Laundering Act and the 5th AML Directive.
  • Recognise what are the basic requirements for an organisation that is subject to the Anti Money Laundering (AML) / Counter Financing of Terrorism (CFT) framework and understand what responsibilities will rest with different parts of the organisation.
  • Detect at early stages suspicious information and practices.

Knowledge:

At the end of the module/unit the learner will have been exposed to the following:

  • Introduction to AML and CFT.
  • AML/CFT within your organisation.
  • FIAU and international bodies in the fight against AML and CFT.
  • Regulatory framework that is in place.
  • Customer Due Diligence.
  • Risk based approach and reporting.

Skills:

At the end of the module/unit the learner will have acquired the following skills:

  • Assess the AML/CFT structure of an organisation.
  • Identify common weaknesses in typical AML structure.
  • Categorise what behaviours may lead the MLRO to report suspicious transactions and practices.
  • Classify and verify a beneficial owner.
  • Examine various systems and controls for the prevention and detection of AML.
  • Identify how to keep relevant records in a manner that allows for sporadic transaction and behaviour to become detectable.
  • Promote a proactive culture with respect to such risks.

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.
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