| CODE | CRL3006 | ||||||||
| TITLE | Anti-Money Laundering Legislation | ||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 6 | ||||||||
| ECTS CREDITS | 4 | ||||||||
| DEPARTMENT | Criminal Law | ||||||||
| DESCRIPTION | This unit will delve into the realities of money laundering and terrorist financing and why they should be a concern for subject persons. It will explain the origins of this stand-alone crime as well as the implications of terrorist financing and will also provide an overview of the various international initiatives that are undertaken in this field. It will also provide a brief analysis of the local legislative framework (both with regard to primary and secondary legislation) as well as an overview of the FIAU’s Implementing Procedures. Study-unit Aims: The first part of the unit will explore the emergence of anti-money laundering regimes, through criminal offences and regulatory compliance, as the primary response to financial crime. Furthermore, the study unit will also examine models for confiscation of criminally obtained property following conviction and frameworks for non-conviction-based confiscation. The unit will further address the compatibility of AML obligations and orders with the protections on due process and the rights to privacy and property set out in the European Convention on Human Rights and other international instruments. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: (a) define the elements of money laundering and the rationale for combating money laundering; (b) discuss international and local initiatives in the fight against money laundering; (c) to have an insight on the local and international legislative frameworks relating thereto and be congnisant of the legislative tools for the criminally obtained property. 2. Skills By the end of the study-unit the student will be able to: (a) translate into our professional practice the theory and the knowledge on the AML legislation gained throughout the course; (b) be aware and have the basic understanding of the AML obligations both in relation to our own professional responsibility to combat such a crime but also to assist others in their ongoing compliance obligations in the AML sphere; (c) tidentify policies on a national and international scale relating to AML and remain abreast with the latest legislative and regulatory developments in the area. Main Text/s and any supplementary readings: Main Texts: - Compliance with the AML/CFT International Standard: Lessons from a Cross-Country Analysis - Money Laundering and Terrorism Financing: An Overview. In Current Developments in Monetary and Financial Law, vol. 3, 2005. (Available on Hydi) - Recent Developments in International Monetary Fund Involvement in Anti-Money Laundering and Combating the Financing of Terrorism Matters. In Current Developments in Monetary and Financial Law, vol. 4, 2005. - Financial Intelligence Units An Overview Further Reading: - The Impact of Terrorism on Financial Markets IMF Working Paper - Suppressing the Financing of Terrorism, A Handbook for Legislative Drafting Factsheet - Reference Guide to Anti-Money Laundering and Combating the Financing of Terrorism (Available on Hydi) - Money Laundering - Muddying the Macroeconomy (Available on Hydi) - The Methodology for Assessing Compliance with Anti-Money Laundering and Combating the Financing of Terrorism Standards. In Current Developments in Monetary and Financial Law, vol. 3, 2005. - Dr.Stefano Filetti, "Towards a European Criminal Law System" Kite Group. |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | James Debono Tiziana Filletti |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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