Introduction to Anti Money Laundering

optional courses

• Number of places is limited to 20 places for WNE UW and MOST students and 5 places for Erasmus students.

• In case of WNE UW and MOST students, students are selected for the course based on grades from selected subjects:

a) bachelor students: Microeconomics parts I, II and III; Macroeconomics I and II;

b) Master students I year: grade from bachelor studies diploma;

c) Master students II year: Advanced Microeconomics, Advanced Macroeconomics.

• In case of Erasmus students places are allocated during registration according to ”first come, first served”.

The course will have the following content:

• AML course overview and subject introduction (2h)

• Terrorist financing prevention and sanctions (4h)

• Money laundering and terrorists financing risk

factors (8h)

• Money laundering prevention in practise (10h)

• AML legal framework (4h)

• Final exam (2h).

Top 30% students of the class rank obtain access to a fast-track recruitment process to Citi's AML department.

Focusing on relevant best practice, legislation and regulations, the course examines money laundering activities including “know your customer” and customer due diligence as well as terrorist financing. Elements involved in the reporting of suspicious transactions are explored, including tipping off and politically exposed person risk. The course focuses on current major issues that impact upon the money laundering prevention role.

The course consists of five units. Each unit contains a set of learning objectives, technical content, practical examples, case studies and tasks to complete.

• The FATF Recommendations, 2012

• Wolfsberg Statement - Guidance on a Risk Based

Approach for Managing Money Laundering Risks,

2006

• Wolfsberg Group PEP Guidance, 2017

• The Puppet Masters, World Bank, 2011

Knowledge:

1. The student understands the problem of money laundering and terrorist financing.

2. The student understands the vulnerabilities of financial institutions to money laundering and terrorist financing.

3. The student knows the legal and regulatory structures of anti money laundering and combating terrorist financing.

4. The student knows the management obligations and the risk-based approach to money laundering and terrorist financing.

Skills:

1. The student is capable of recognizing simple examples of money laundering.

2. The student is capable of constructing simple methods of money laundering prevention.

3. The student is capable of proposing changes to existing legal structures so as to prevent money laundering.

Social competences:

1. The student is aware of the problem of money laundering and its prevention in modern societies.

2. The student is able to present the result of his work or the work of a group he was a member of.

3. The student is capable of working individually and in a group.

4. The student is able to complete the acquired knowledge.

KW01, KW02, KW03, KU01, KU02, KU03, KK01, KK02, KK03

2 hours exam at the end of the course. The exam consists of a multiple-choice test and of a case study.

Top 30% students of the class rank obtain access to a fast-track recruitment process to Citi's AML department.