Anti-Money Laundering
6 Credits (ECTS)
Anti-Money Laundering
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.
Career Paths
This programme aims to help you develop essential work skills and behaviours that are needed for you to secure and sustain meaningful employment, as well as to help you progress towards managerial positions.
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:
- Modular Assessment
- Project 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.
Module Intake Dates
October 2024
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.