Diploma in Anti-Money Laundering

Course Modules

Topic 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

Topic 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

Topic 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

Topic 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

Topic 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

Topic 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?

Topic 7

Knowledge is Power: Training

• Legislative requirements
• What should designated persons do?
• Additional consideration by staff

Topic 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)

Topic 9

Laying down the Law: Enforcement Procedures

• Criminal sanctions
• Monitoring of Designated Persons
• Freezing of Terrorist Funds
• Administrative Sanctions

Topic 10

Following the Money: Civil Liability

• Conversion of stolen property
• Tracing the proceeds of crime
• Constructive trusteeship
• Knowing assistance

Course Award

City Colleges Diploma

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.

Assessments/Examinations

A pass grade on the written assignment will be required for awarding the Diploma.

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.

Lecturer

Conor Duff

LLB, BL

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 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.

Conor has recently published a book on European Union Treaties and Related Secondary Legislation.

Paschal Walsh

Paschal is a dedicated and results-oriented Corporate Investigator and Trainer with an extensive background of achievement in Financial Crime Investigation and Training. He is a collaborative communicator with an aptitude for building relationships and mentoring students/trainees. Capable of designing and delivering comprehensive learning and development courses to promote awareness, knowledge, and practical skills in key areas.
Paschal spent 15 years attached to the Garda National Economic Crime Bureau where he led many major investigations and he was a member of the working group set up to develop a Detective Fraud Course, training Detective from across the various Garda Divisions in all aspects of Financial Crime, from initial investigation, data gathering and analysis, interviewing and report writing.

Paschal then spent three and a half years in the private sector where he worked as a Senior Manager, Special Investigations Unit (Europe) investigating internal and external allegations of fraudulent activity against the company and its many stakeholders. Paschal also lectured to various departments and subsidiaries across the enterprise of such topics Fraud Awareness, Risk & Compliance and Risk Assessment.

Since 2015 Paschal has been involved in developed and presents lectures (Classroom and Virtually) across the Public and Private Sector on a number of topics including: Risk and Fraud Awareness, Data Gathering and Analysis, Interviewing and File Construction and Report Writing.

Paschal holds a BA Honours (Administration of Justice) as well as Diplomas in such diverse topics as: Anti-Money Laundering, Event Management, Employment Law, Criminology & Psychology, Training and Development Special Purpose Award (QQI Level 6) and the Certificate in Training and Continuing Education (QQI Level 7)

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