Announcements

Announcement 01 - Welcome

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Complaints Procedure Policy

Complaints Form

Students' Evaluation Form

Students Privacy Notice

Online Sessions Link

To connect to the online sessions of this study programme please click on the link below. You will be asked to register your attendance if you are not already signed in into your Zoom account. You will also be asked for the password which is below.

LINK for Thursday 9 December session

Meeting ID: 934 1398 5908

Passcode: 418886

 

LINK for Tuesday 11 January 2022 session

Meeting ID: 920 4412 9825

Passcode: 824141

Make sure that you show with your name & surname as you have been registered for the study programme. This is very important for attendance purposes.

Lecture Schedule & Notes

Lecture notes will be available during the week following the respective lecture. Schedule dates are indicative and may change. All changes, if any, may be communicated via email, SMS or telephone calls.

LectureDateTimePresentationNotes (If Any)Session Recording
Lecture 012 November 202209:00 to 11:30hrsPresentation 01Request
Lecture 0211 November 202209:00 to 11:30hrsPresentation 02Request
Lecture 0316 November 202209:00 to 11:30hrsPresentation 03Request
Lecture 0423 November 202209:00 to 11:30hrsPresentation 04Request
Lecture 051 December 202209:00 to 11:30hrsPresentation 05Request
Lecture 067 December 202209:00 to 11:30hrsPresentation 06Request
Lecture 0715 December 202209:00 to 11:30hrsPresentation 07Request
Lecture 0821 December 202209:00 to 11:30hrsPresentation 08Request
Presentations13 January 202309:00 to 11:30hrs

Lecturer/s  

Dr Luke Mizzi

Mr Peter Mizzi

Lecture Summaries & Suggested Reading 

Lecture 1 - Introduction to Anti-Money Laundering and Funding of Terrorism and understanding the impact of non- compliance - Dr Luke Mizzi

This lecture will delve into the definition of the offences of money laundering and funding of terrorism from a theoretical perspective. The roles of international and European law-making bodies will also be discussed. Through this lecture, participants should develop a practical understanding of the notions of money laundering and funding of terrorism and articulate a general understanding of the Global/European and articulate an understanding of regulatory requirements and obligations to business management and directors.

Core Reading List

  • Financial Intelligence Analysis Unit, Part I, Implementing Procedures- Chapter 1
  • Prevention of Money Laundering Act (Cap.373 of Laws of Malta)
  • Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01)
  • Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (“4th AML Directive)
  • Directive 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (“5th AML Directive”)

Supplementary Reading List

Lecture 2 - Understanding Maltese Legislation on Money Laundering and Funding of Terrorism - Dr Luke Mizzi

This lecture will examine Malta’s regime for combatting anti-money laundering and the funding of terrorism through a detailed analysis of the salient features of the Prevention of Money Laundering Act and Prevention of Money Laundering and Funding of Terrorism Regulations. Through this lecture, participants should be able to develop an understanding of the local regulatory requirements relating to money laundering and terrorist financing, identify issues related to these offences, the powers of local authorities such as the FIAU and the Police and the reporting requirements to such authorities.

Core Reading List

  • Financial Intelligence Analysis Unit, Part I, Implementing Procedures- Chapter 1, Chapter 2
  • Prevention of Money Laundering Act (Cap.373 of Laws of Malta)
  • Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01)
  • Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (“4th AML Directive)
  • Directive 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (“5th AML Directive”)

Supplementary Reading List

  • Cox, D., (2014). Handbook of Anti-Money Laundering
  • Parkna, T., (2012) Mastering Anti-Money Laundering and Counter Terrorist Financing

Lecture 3 - FIAU Implementing Procedures - Dr Luke Mizzi

This lecture will examine the FIAU Implementing Procedures Part I. Through this lecture, participants should be able to develop an understanding of these Implementing Procedures, which Procedures elaborate on the legislative framework examined in the previous two sessions.

Core Reading List

  • Financial Intelligence Analysis Unit, Part I, Implementing Procedures - Chapter 1

Lecture 4 - Conducting customer Due Diligence Part 1 - Mr Peter Mizzi

The following topics will be covered in this lecture:

  • Defining Customer Due Diligence (CDD)
  • The value of CDD
  • Identification and Verification – requirements and obligations for each typology of customer
  • Identifying the Customer and Beneficial Owner/s – defining beneficial ownership for each typology of customer

Core Reading List

Lecture 5 - Conducting customer Due Diligence Part 2 - Mr Peter Mizzi

The following topics will be covered in this lecture:

  • The importance of establishing the purpose and intended nature of the relationship
  • Understanding Source of Wealth and Source of Funds
  • Ongoing Monitoring – Customer reviews, updating CDD and transaction monitoring
  • The importance of Screening – Screening tools and how best to interpret the results
  • Sanctions Screening – Obligations and best practice
  • Timing of CDD measures
  • CDD on a risk-based approach
  • Simplified Due Diligence – When and how
  • Enhanced Due Diligence – When and how
  • Failure to complete CDD – Consequence and repercussions

Core Reading List

Lecture 6 - Application of a Risk based approach - Mr Peter Mizzi

This lecture will analyse in detail the requirements around the risk-based approach, including the BRA and CRA requirements and the application of SDD and EDD. Attendees should therefore develop an understanding of the application of a risk-based approach.

Core Reading List

  • Financial Intelligence Analysis Unit, Part I, Implementing Procedures
  • Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01)
  • Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (“4th AML Directive)

Lecture 7 - Politically Exposed Persons and Reliance on Third Parties - Dr Luke Mizzi

Politically Exposed Persons (“PEPs”) pose a high risk of ML/FT due to the position they occupy and the influence they exercise. PEPs may abuse of their prominent public functions for private gain, the application of EDD measures is therefore necessary to mitigate the potential risks of ML/FT that arise when a subject person deals with PEPs.

This lecture will firstly delve into the definition of a PEP at law and identify several key factors to consider when determining whether such person qualifies as a PEP. Furthermore, participants will be guided on the required enhanced due diligence measures when dealing with PEPs.

Core Reading List

  • Financial Intelligence Analysis Unit, Part I, Implementing Procedures - Chapter 4
  • Prevention of Money Laundering Act (Cap.373 of Laws of Malta)
  • Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01)
  • Malta Financial Services Authority “Guidance on Politically Exposed Persons”

Supplementary Reading List

  • Raymond Choo, K. (2008), "Politically exposed persons (PEPs): risks and mitigation", Journal of Money Laundering Control, Vol. 11 No. 4, pp. 371-387.

Lecture 8 - Money Laundering Reporting Officer Obligations and reporting procedures - Dr Luke Mizzi

This lecture will focus on the obligations of the Money Laundering Reporting Officer (“MLRO”) and aims to clearly identify the areas which need to be closely monitored and reported on as part of such officer’s obligations arising out of AML and CFT legislation and regulations. Through this lecture participants should become familiar with the various roles and responsibilities of an MLRO.

Core Reading List

  • Financial Intelligence Analysis Unit, Part I, Implementing Procedures- Chapter 5
  • Prevention of Money Laundering Act (Cap.373 of Laws of Malta)
  • Prevention of Money Laundering and Funding of Terrorism Regulations (Subsidiary Legislation 373.01)

Lecture 9 - Presentations Part 1 - Dr Luke Mizzi

Lecture 10 - Presentations Part 2 - Dr Luke Mizzi

Assessments

You have to choose 1 out of the 3 questions found in the Assignment Submission form below. The assignment should be submitted by not later than Friday 28 January 2022. The assignment has to be submitted together with the Assignment Submission Form which is available below. Note that you also have to prepare and deliver a 20 minute presentation on your assignment. The date when you have to deliver the presentation will be given to you shortly and will be either on the 11 or 13 January 2022.

Assignment Submission Form

If you need information on how to plan, draft and submit your assignment follow the 21 Academy presentation on Writing and Submitting your Assignment.

We are also making the 21 Academy's Assignments Rubric and the Presentations Rubric available for your guidance. This is a performance-based assessment tool. Tutors will use the rubric to assist them to allocate scoring while it allows students to understand what is required in the assignment and presentation and how each will be graded.

Assignments should be sent accompanied by their respective assignment submission form on info@advisory21.com.mt. Please send assignments in pdf format. Do not scan assignment but convert/save it directly to pdf.

Note that the submitted assignments will be scanned for plagiarism.

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