Legislation in Malta and International Requirements
6 ECTS
Legislation in Malta and International Requirements
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€315 refund on this module
Module Description
This module aims to raise awareness of the laws and standards designed to combat money laundering and terrorist financing.
It emphasizes the continual updates and adaptations of these regulations at both international and local levels in response to evolving threats posed by criminals and terrorists.
Students will gain insights into the legal frameworks and regulatory requirements governing financial transactions, with a focus on understanding how these laws are implemented in Malta and aligned with international standards.
By studying this module, students will be equipped to navigate complex regulatory environments, ensure compliance with legal obligations, and contribute effectively to efforts aimed at preventing financial crime and terrorism financing.
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.
Module Intake Dates
October 2024
Learning Outcomes
Competences:
At the end of the module/unit the learner will have acquired the responsibility and autonomy to:
- Analyse why regulation is required and the relevant regulatory framework.
- Examine the implications of this legal regulatory framework on the obliged entities and the high-risk transactions.
- Identify and discuss the role of international cooperation in the legal regulatory framework and the advantages of having effective international cooperation in place.
- Examine the combined implementation of major regulatory requirements currently in place both locally and on a European Level.
Knowledge:
At the end of the module/unit the learner will have been exposed to the following:
- Develop comprehensive understanding of the key regulatory frameworks and legislation for anti-money laundering and the counteracting of the funding for terrorism.
- Identify the improvements upon the Third Money Laundering Directive and what these imply on money laundering.
- Develop knowledge and understanding of enhanced due diligence that has to be carried out.
- Define the implications of the new regulatory regime and related legislation and how they are linked together in order to show that there is a risk-based approach and supervision being carried out.
- Explain the important role that key authorities have to play in addressing specific legislation.
- Transposition of the 4th AMLD in Malta.
- Transposition of the 5th AMLD in Malta.
- Proceeds of Crime Act.
- Non-conviction based confiscation.
- International cooperation.
- Legislation for new supervisory authorities.
Skills:
At the end of the module/unit the learner will have acquired the following skills:
- Identify the obliged entities under each directive and the implications on anti-money laundering and counteracting the funding for terrorism.
- Demonstrate knowledge and understanding of the legislative amendments that were needed as a result of the directives and the implications of such amendments on due diligence and risk-based supervision.
- Discuss the implications of the proceeds of crime act and the non-conviction-based law in relation to Malta and the proceeds of crime.
- Analyse the implications of new legislation and understanding whether such legislation addresses the key FATF recommendations.
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.