Law School Module Details

The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title INTERNATIONAL MONEY LAUNDERING REGULATIONS
Code LLAW115
Coordinator Dr J Zrilic
Law
J.Zrilic@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 7 FHEQ Whole Session 15

Aims

This module seeks to introduce students to the legal framework of anti-money laundering regulation. The concepts, issues and problems stemming from the fight against money laundering are identified and developed within the broader economic and practical application of the law. This module will equip students with the knowledge and skills to understand and critically assess money laundering regulation in domestic, European, and global terms.

The module consists of a structured series of exercises designed to develop student understanding of the practices of money laundering and the legal frameworks which seek to deal with such practices. Students will work individually and in on-line discussion on a range of tasks exploring the following key issues: Definition and typologies (established and emerging) of money laundering; The domestic anti-money laundering framework including the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2007; The international dimensio n to money laundering regulation including the EU, UN and the FATF (Financial Action Task Force).


Learning Outcomes

(LO1) By the end of this module a student will be able to:

(LO2) Demonstrate an awareness of money laundering typologies;

(LO3) Demonstrate an understanding of how the anti-money laundering framework has developed to deal with emerging money laundering typologies;

(LO4) Demonstrate knowledge and understanding of the domestic, European, and international anti-money laundering frameworks;

(LO5) Identify the roles of key domestic and international organisations and agencies involved in the regulation of money laundering;

(LO6) Demonstrate a critical awareness of the role of professionals within international regulatory efforts to minimise money laundering;

(LO7) Conduct effective research, including the use of legal information retrieval systems, to locate and collate information about the law applicable to money laundering.

(S1) Critical analysis appropriate for advanced level masters study.

(S2) Problem-solving skills applicable to complex theoretical and practical contexts.

(S3) Time management and prioritisation skills by working to deadlines.

(S4) Individual and group communication skills by presentations in an online environment (e.g. the virtual classroom).

(S5) Take responsibility for independent learning agenda.

(S6) Reading, analysing and synthesising different viewpoints, becoming familiar with different viewpoints and presenting findings/conclusions in clear, comprehensible, structured format.

(S7) Critical skills with regard to the merits of particular arguments and making reasoned choices between alternative solutions or arguments in all modules and dissertation.


Syllabus

 

1
Week One: Definition of Money Laundering and Associated Typologies

Study packs to include short lectures on attempts to define money laundering at both practical and legal levels. Packs will also include statutory materials, cases and journal articles as well as key issues for consideration.

Expected Responses: DQI + 3-5 DQF

Assignment: HA – write a short report on two different money laundering typologies including an assessment of why each typology is attractive to money launderers.

Week Two: The Domestic Anti-Money Laundering Framework I

Focused upon Part 7 of the Proceeds of Crime Act 2002 and the various reporting offences therein including the definition of the ‘regulated sector’; the concept and role of ‘suspicion’ and defences.

Expected Responses: DQI + 3-5 DQF

Assignment: HA – write a short report on the various offences laid down by Part 7 of the PCA 2002 incorporating an analysis of decided case law where relevant.

Week Three: The Domestic Anti-Money Laundering Framework II

Focused upon the Money Laundering Regulations 2007 including their scope and the definition of ‘relevant person’; the application of due diligence; training and record keeping requirements.

Expected Responses: DQI + 3-5 DQF

Assignment: HA – write a short report on the concept of ‘due diligence’ as employed by the MLR 2007.

Week Four: The US Anti-Money Laundering Framework

Focused upon the domestic position of the United States of America including the Banking Secrecy Act 1970 and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act 2001.

Expected Responses: DQI + 3-5 DQF

Assignment: HA – Write a short summary of the key features of the US anti-money laundering framework drawing particular attention to how i t differs from that within the United Kingdom.

Week Five: The Role of Professionals within Anti-Money Laundering Frameworks

Focused upon the reliance of professionals within anti-money laundering frameworks and the difficulties that causes, including, confidentiality concerns; compliance costs; defensive reporting.

Expected Responses: DQI + 3-5 DQF

Assignment: Interim Report

Week Six: The EU Anti-Money Laundering Movement

Focused upon the development of anti-money laundering laws at a pan-European level, including the three EU money laundering Directives.

Expected Responses: DQI + 3-5 DQF

Assignment: Begin the collection of materials for the final assignment from your allocated topic

Week Seven: The International Anti-Money Laundering Framework I

This week introduces the various agencies and organisations which have an impact upon the development of global anti-money laundering standards including the International M onetary Fund; the Financial Action Task Force; and the Edgmont Group.

Expected Responses: DQI + 3-5 DQF

Assignment: Interim Report

Week Eight: The International Anti-Money Laundering Framework II

This week focuses upon the operation of the FATF 40+9 recommendations which develop an international standard for anti-money laundering practice and policy.

Expected Responses: DQI + 3-5 DQF

Assignment: Final Report

Assessment Methods

Contribution to virtual classroom discussion; written assignments; individual project – interim report and final project.


Teaching and Learning Strategies

Teaching Method 1 - Online Discussions Description: Weekly Online Discussions and Assignments in Virtual Classroom


Teaching Schedule

  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours             0
Timetable (if known)              
Private Study 150
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Individual Project There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Weeks 4 and 6         
Final project There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole session  Week 8    30       
Discussion Question There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Week 1-8    15       
Follow-on of discussion question There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Weeks 1-8    15       
Hand-in assignments There is a resit opportunity. Standard UoL penalty applies for late submission. This is not an anonymous assessment. Assessment Schedule (When) :Whole Session  Weeks 2,3,5,7    35       

Recommended Texts

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.

Other Staff Teaching on this Module

Ms LE McManus School of Law and Social Justice L.E.Mcmanus@liverpool.ac.uk

Modules for which this module is a pre-requisite:

 

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

 

Co-requisite modules:

 

Programme(s) (including Year of Study) to which this module is available on a required basis:

 

Programme(s) (including Year of Study) to which this module is available on an optional basis:

 

Additional Programme Information