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Diploma in Anti-Money Laundering

17
Oct

Diploma in Anti-Money Laundering

Course Details

Full Course name:
Diploma in Anti-Money Laundering

Course Dates

Next course commencing:
Saturday, 1 February 2020

Duration: 6 Saturdays from 9.30 am to 3 pm
5, 12, 19 October
2, 9, 23 November

Course Award

Award: City Colleges Diploma

NFQ: Not Applicable

CPD Hours:
Recognised by The Institute of Banking and LIA for CPD Purposes

Learn about the history and impact of money laundering and terrorist financing, and the initiatives designed to combat them.

The Diploma in Anti-Money Laundering is designed 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.  It also examines 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.

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.

Conor Duff

Conor Duff

Conor Duff is a graduate of Maynooth University (LL.B.); The Honorable Society of King’s Inns (B.L) and the Law Society of Ireland (Dip. Construction law). He graduated from Maynooth University and the Law Society of Ireland with a first-class honours in both his LL.B. degree and his Diploma in Construction Law. He went on to qualify as a Barrister and has a general practice with a particular emphasis on commercial and construction disputes. He is also a member of the Irish Construction Bar Association and has attended many construction conferences including the International Construction Bar Association conference . At present, he lectures the Diploma in Anti Money Laundering at City Colleges and lectures Contract law on our FE1, King’s Inns and QLTT preparatory course.

Conor was commended for his work at undergraduate level having ranked in the second percentile in his year at Maynooth University. He also was a finalist at the Irish Law Awards for “Law Student of the Year”. He has extensive advocacy experience having won the UCC Matheson Moot Court Competition, the National Negotiation Competition going on to represent Ireland in the International negotiation competition and was a semi-finalist in the Adrian Hardiman Moot Court Competition.

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

Course Fee

Classroom-based: €995
(€1,095 if paying  in instalments)

Online course: €895
(€995 if paying in instalments)

Non-EU students: €1,295

A pass grade on the written assignment (worth 80%) and presentation (worth 20%) will be required for awarding of the Diploma. A fail grade will result in a Certificate of Attendance for the course but without the Diploma being awarded.

Students must attend at least 80% of classes to graduate with either the Diploma or Certificate of Attendance unless a serious and verifiable reason for further absence is provided. If completing the course online, attendance and participation is tracked through Moodle.

The assignment/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.

Successful students will be invited to attend a graduation event in Dublin in April 2020.

  • Why City Colleges?
    • Courses for students who are passionate about their subject, delivered by leaders in their field.
    • Live lectures which are also streamed live on Moodle and recorded for review
    • City centre location in South Great George’s Street, convenient for bus, LUAS, DART
    • Study rooms and library in our City Centre location
    • Limited class size
    • Parking

“I would really recommend this course and the lecturer Conor Duff.  He involves everyone in class discussion and makes sure that all are understanding the theory.  He makes even technical concepts very understandable.”

AF