Diploma in Anti-Money Laundering

17
Oct

money-laundering

Start date: Wednesday, 24 January 2018

Duration: 10 weeks, Wednesday evenings from 6.30 to 9.30 pm

Course fee: classroom-based €945 (or €995 if paying the course fee in instalments), online €845 (or €895 if paying the course fee in instalments)

Awarding body:  The Institute of Commercial Management (ICM)


Who should apply:

Those working in credit and financial institutions such as banks, credit unions and insurance undertakings.  Those working in the commercial and criminal legal systems in Ireland, who have a special interest in anti-money laundering/terrorist financing (AML/TF) legislation.  Those who would like to know more about the history and impact of money laundering and terrorist financing, and the initiatives designed to combat them.


Course Summary:
Delivered by leading academics and financial services experts, the purpose of the Diploma in Anti-Money Laundering is to equip students (from a variety of professional and interested backgrounds) with an understanding of the history and nature of the money laundering and terrorist financing offences, and the special approach taken by the AML/TF legislation to prevent these offences.

Students will consider in detail the various obligations imposed by the AML/TF legislation on credit and financial institutions including, in particular, their designated Money Laundering Reporting Officers. At the end of the course, students will have a firm understanding of the legislation’s requirements in relation to, in particular, the risk-based approach, customer due diligence, reporting suspicious transactions, record-keeping, training and corporate governance.
Students will also learn about the criminal and civil enforcement procedures that await those who have been found guilty or are suspected of money laundering or terrorist financing offences.

  • Lecture 1
    Introduction; the rise of money laundering and terrorist financing; the initiatives that sought to keep apace
    • Background to money laundering and terrorist financing:
    – Understanding the general concept of “money laundering” and “terrorist financing”
    – Tracing the history of money laundering and terrorist financing
    – Stock-taking money laundering and terrorist financing today

    • Comparative Study of Initiatives:
    – International initiatives
    – EU initiatives

    • Background to Criminal Justice (Money Laundering) Acts

    Lecture 2
    Criminal Justice (Money Laundering) Acts: The Offences and Designated Persons
    • Criminal Offences:
    – Money laundering offences
    – Other offences related to money laundering
    – Terrorism
    – Secondary liability

    • Designated Persons:
    – Who is subject to AML/CTF Rules?
    – Exemptions
    – Entities specifically excluded

    Lecture 3
    Keeping Ahead of the Game: The Risk-Based Approach
    • What is a “risk-based” approach?
    • Applying a risk-based approach
    • Legislative Basis
    • Role of senior management and internal controls
    • AML/CFT risk policy and procedures
    • Money Laundering/Terrorist Financing Risk Assessment
    • Other factors to consider in designing a risk based approach

    Lecture 4
    Know your Customer or else: Customer Due Diligence
    • What is customer due diligence?
    • When do the customer due diligence obligations apply?
    • What customer due diligence measures should be conducted?
    • Timing of customer due diligence measures
    • Failure to comply with customer due diligence procedures
    • Simplified customer due diligence
    • Enhanced customer due diligence
    • Non face-to-face customer due diligence
    • Special provisions applying to Credit and Financial Institutions
    • Reliance on Third Parties to undertake Due Diligence

    Lecture 5
    Blowing the Whistle: Reporting Suspicious Transactions
    • Legislative requirements
    • Reporting of Suspicious Transactions
    • Knowledge, suspicion and reasonable grounds for suspicion
    • Timing of reports
    • Protections from disclosures
    • The internal reporting process
    • Process for reporting to the “FIU” and Revenue Commissioners
    • Tipping off
    • Directions and Orders

    Lecture 6
    Taking Note: Requirement to keep Records
    • Legislative requirements
    • What records should be maintained?
    • Possible formats in which records may be kept
    • Where and for how long should records be maintained?

    Lecture 7
    Knowledge is Power: Training
    • Legislative requirements
    • What should designated persons do?
    • Additional consideration by staff

    Lecture 8
    Inside Out: Governance, and Internal Policies & Procedures
    • Legislative requirements
    • Corporate Governance Code
    • Senior Management’s Responsibilities
    • The role of the Money Laundering Reporting Officer (MLRO)

    Lecture 9
    Laying down the Law: Enforcement Procedures
    • Criminal sanctions
    • Monitoring of Designated Persons
    • Freezing of Terrorist Funds
    • Administrative Sanctions

    Lecture 10
    Following the Money: Civil Liability
    • Conversion of stolen property
    • Tracing the proceeds of crime
    • Constructive trusteeship
    • Knowing assistance

  • 115010-Tara-Murphy

    Tara Murphy is a practising barrister, who has worked in advisory, policy and research roles in both the Public and Private Sectors. From 2013 to 2015, Tara worked with the Department of Public Expenditure and Reform. The Department is responsible for a number of initiatives to improve the openness, transparency and accountability of the Civil and Public Service. Based in the Civil Service HR Policy Directorate, Tara provided legal assistance in relation to a range of employment law issues including, but not limited to, the roll-out and implementation of several new HR policies.

    Tara also spent a number of years working with the Law Reform Commission, an independent body established under the Law Reform Commission Act 1975 to keep the law under independent, objective and expert review. The Commission has published a wide range of consultation papers and reports on diverse areas of civil and criminal law. Tara worked on several of these publications, including those relating to the Civil Liability of the Good Samaritans and Volunteers, and Mandatory Sentencing. Tara has presented a number of papers on her work including, in particular, sentencing the corporate fraudster.

    Tara has worked with a number of other organisations including the National Disability Authority and the Department of Foreign Affairs.

    Tara holds a Degree in Law with French Law from University College Dublin, a Master of Laws in International Human Rights Law from the University of Essex and a Diploma in Employment Law from Dublin Institute of Technology. She also studied at the Honorable Society of King’s Inns.

    Tara’s areas of interest include criminal law, employment law, contract law and human rights law. She lectures in contract law, corporate fraud investigation and employment law.

  • A pass grade on the written assignment will be required for awarding of the Diploma in Anti-Money Laundering course. A fail grade will result in a Certificate of Attendance for the course but without the Diploma being awarded. Students must attend at least 8 of the 10 evenings to graduate with either the Diploma or Certificate of Attendance unless a serious and verifiable reason for further absence is provided. Similarly, the Project must be handed in on the due date unless a sound reason for lateness is provided. In such instances, an extension may be awarded at the discretion of the lecturer.

  • “Tara’s material is well prepared and she is very knowledgeable on the subject matter.  She presents the class in a professional manner, while maintaining good approachability.  She is excellent at encouraging class discussion around what is a very interesting subject.”

    Tony Coughlan

     

  • Apply Online

    For more information please contact us on: 1850 25 27 40 or email info@citycolleges.ie

    To download an application form click here

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