Courses Malta > Study Area > Anti-Money Laundering & Compliance > Award in Anti-Money Laundering & Funding of Terrorism – MQF 5, 4 ECTS

Award in Anti-Money Laundering & Funding of Terrorism – MQF 5, 4 ECTS

The ideal course for Professionals who want to understand the concepts of money laundering and want to become aware of obligations arising under the Prevention of Money Laundering Act and other relevant legislation and guidelines.

Teacher
Steve C

Key Information

Campus Level Format
  LEAD Training Services   Award MQF 5   Live Webinars
Duration Pace Fees
  2 months   Part Time   € 1200
Application Deadline Start Date Assessment
  Oct 2023    Oct 2023   Assignment

About this Course

This is an Accredited Course by the Malta Further & Higher Education Authority (MFHEA), at MQF/EQF Level 5, with 4 ECTS. The Award in Anti-Money Laundering & Funding of Terrorism is the ideal course for Professionals who want to understand the concepts of money laundering and want to become aware of obligations arising under the Prevention of Money Laundering Act and other relevant legislation and guidelines

Target Audience

Professionals who want to become aware of obligations arising under the Prevention of Money Laundering Act and other relevant legislation and guidelines such as:

  • Due Diligence Officers
  • Compliance Officers
  • MLROs
  • Designated Employees
  • Company Directors
  • Auditors
  • Lawyers
  • AML Subject Persons
  • Finance Professionals
  • Risk Officers/ Managers

Learning Outcomes

By the end of the course, students will be better able to:

  • Understand the concept of money laundering
  • Appreciate the importance of AML regulation in combatting crime, fraud and terrorism
  • Become aware of obligations under arising under the Prevention of Money Laundering Act
  • Become aware of Prevention of Money Laundering and Funding of Terrorism  Regulations and other relevant legislation and guidelines
  • Understand the main responsibilities of Senior Management and the Money Laundering Reporting Officer (‘MLRO’)
  • Understand industry-specific good practice guidance and direction on AML programmes;
  • Conduct proper customer due diligence procedures;
  • Develop and implement effective systems and controls for the prevention and detection of AML;
  • Define the role of the Financial Intelligence Analysis Unit (FIAU).
  • Understand the latest 5th AML Directive Developments

Awarding Body

This qualification is awarded by LEAD Training Services. This qualification is accredited by the Malta Further and Higher Education Authority. MFHEA deems this Award in Anti-Money Laundering & Funding of Terrorism to be at MQF/EQF Level 5 with 4 ECTS in the Malta Qualifications Framework and the European Qualifications Framework for lifelong learning.

Entry Requirements

Applicants should hold:

  • The entry requirements for this course are 5 O-Levels and 2 A-Levels OR
  • A minimum of 3 years working within business administration.

This course welcomes individuals from the legal age of 18 onwards. If an applicant does not meet the above entry requirements, you are encouraged to contact the Academy for an interview.

Assessment Mode

At the end of the course, students will be presented with the assignment questions, where students have four or five questions and need to choose three. The total word count for the total assignment is 3,000 words. Students need to submit the assignment as per the submission date on the assignment questions document provided. Grading: The assignment questions will be corrected and students must achieve a pass mark of at least 50 marks, in order to be given a certification.

How You’ll Learn

This course will be delivered via live online webinars. The course trainers will be visible on screen via a professional webinar platform, through which students can follow the trainer presenting live, whilst also using a PowerPoint presentation and sharing other resources as necessary. Students will be able to interact with the trainer by sending questions or comments through the same webinar platform. The course will also make use of:

  • Online Presentations
  • Video Lecturing;
  • Q&A via online course forum;
  • Online Q&A with Educator (Trainer).

The above are considered to be contact hours as all of the above will be under control of the instructor. Language of Instruction & Delivery Mode This programme will be delivered in English and as Live Online Webinars via ZOOM.

Course Funding Schemes

This course is eligible for individual funding through these schemes: GET QUALIFIED SCHEME Candidates can benefit from a 70% rebate of the course fee via tax credits. Learn more about this scheme TRAINING PAYS SCHEME (TPS) Candidates can benefit from a 75% rebate of the course fee. Learn more about this scheme>>

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    Course Outline:

     

    - Course: Award in Anti-Money Laundering & Funding of Terrorism

    - MQF/EQF: 5

    - ECTS: 4

    - Mode of Learning: Live Online Webinars

    - Pace of Learning: Part-time

    - Assessment: Assignment

    - Fee non-EU Students: €1200

     

    Course Syllabus:

    Module 1

    Introduction to Money Laundering & Terrorist Financing (1 ECTS)

    At the end of the module/unit the learner will be able to:

    - Identify the importance of anti-money laundering and counter terrorist financing and the main elements of both offences, together with their distinguishing features.

    - Gain a better understanding of the regulatory framework that is in place.

    - Understand the role of the main international bodies.

    - Understand the role of the FIAU both as a financial intelligence unit and as a supervisory authority.

    - Appreciate how supervision is carried out and how the various supervisory authorities interact in carrying out AML/CFT regulation both through on-site and off-site work.

    - Have a broader understanding of the legislative framework in Malta.

    - Comprehend to a larger extent the provisions of the Prevention of Money Laundering Act, including those related to provisional court orders and the main definitions under the Act.

    - Have a deeper understanding of the relevant provision of the Criminal Code, particularly those relating to the offence of funding of terrorism.

     

    Module 2

    The Risk-Based Approach and Reporting Requirements (1 ECTS)

    At the end of the module/unit the learner will be able to:

    - Describe the Regulations around escalating and reporting suspicious activity.

    - Understand the role of the Money Laundering Reporting Officer within the organisation, the duties and obligations in terms of record keeping, vetting of employees, and training.

    - Identify possibly suspicious activities and red flag indicators for money laundering.

    - Understand the recent developments in relation to the 4th EU Anti-Money Laundering Directive.

    - Understand the FATF Recommendations and Methodology.

    - Gain awareness of the AML risks effecting an organisation and the way to mitigate them.

    - Discuss methods on how to implement the risk based approach.

    - Describe all the necessary requirements around reporting and avoiding the risk of tipping-off.

     

    Module 3

    Implementing Customer Due Diligence Procedures (1 ECTS)

    At the end of the module/unit the learner will be able to:

    - Understand the requirements of the CDD procedures.

    - Understand how identification and verification of an applicant for business and a beneficial owner is to be carried out, and the resources which can be used.

    - Identify the obligations for subject persons to carry out ongoing monitoring and sanction screening of a business relationship.

    - Identify the instances when enhanced due diligence measures need to be carried out and those instances when simplified due diligence can be carried out.

    - Gain awareness of what constitutes a reputable jurisdiction and Politically Exposed Persons.

     

    Module 4

    Building a Compliance Department (Governance and Training) (1 ECTS) 

    At the end of the module/unit the learner will be able to:

    - Identify internal policies and procedures which need to be implemented within your organisation for AML/CFT.

    - Create a proactive culture within the whole organisation with respect to risks from ML/FT.

    - Become aware of what is needed in the AML/CFT framework and what responsibilities will rest with which functions in the organisation.

    - Gain awareness and knowledge of how to assess and audit the AML/CFT structure.

    - Become aware of common weaknesses in typical AML frameworks.

    - Gain awareness of the compliance and risk management function within your organisation.

     

    Materials included in the fee:

    - Tuition Fee

    - Assessment Fee

    - Overall qualification certificate

    - Course material & tutorial support notes

     

     Download the official course brochure from here.

     

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