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Module Title: Financial Crime

Module Director: Mr Ian Roberts

Available Routes:

Core Module : Super Accelerated Route

Elective Module : Full Programme and Accelerated Route

Module Overview:

Responsibility for compliance within capital markets has devolved to the front line and all employees are now expected to fulfil their role in combating financial crime. Whether your role is client facing, operational or in a support function this module will help you better understand your organisation's vulnerabilities to financial crime.

The module will consider the prevalence, form and methods of financial crime undertaken by individuals, financial institutions and their employees. The student will learn the methods through which crime is undertaken including fraud, money laundering and terrorist financing, and the global regulatory environment and professional methods in which the effects of financial crime can be alleviated and minimised.

Adopting a professionally orientated approach to address the subject matter and focus on alleviation and management of the risks posed by financial crime in Banking and Finance. This module draws heavily on real case studies to allow students to analyse actual examples of financial crime and evaluate methods to address and limit the scale and scope of financial crime in financial institutions and markets.

Module Aims & Objectives:

Successful completion of this module will enable students to:

  • Synthesise and articulate a typology of financial crime and its predicate offences.
  • Describe the global, regional and local financial regulatory bodies and critically assess their functions and interrelationships.
  • Appraise the legal, ethical and regulatory requirements of financial firms to eradicating financial crime.
  • Understand the consequences of financial crime on society and the banking and finance sector.
  • Analyse real case studies to appreciate the complexity and prevalence of financial crime.

Means of Assessment:

This module is assessed by means of a single mini project comprising a professional report taking into account the learner's business environment and local scenarios.

Course Overview

  • The module introduces the phenomenon of financial crime and the scale of the problem. Setting the context of the centrality of the banking and finance sector in combating financial crime and the complexity of the issue. Case studies are introduced, and students are encouraged to engage with these throughout the module. The international, regional and national regulatory bodies are introduced and some of the terminology used by them.
  • Drivers of financial crime including bribery and corruption, organised criminal gangs and human trafficking.
  • Money laundering, terrorist resourcing and proliferation financing and the role of the financial sector and banker's professional obligations.
  • Fraud is a substantial problem for banks and their customers. Understanding some of the drivers of fraudulent behaviours and methods to address fraud are critical.
  • Risk management has moved from something done for front-line bankers to something that front-line bankers are expected to actively engage with. Understanding approaches to risk culture.
  • The role of offshore financial centres and a globally interconnected banking system in facilitating financial crime.
  • The socio-economic effects of financial crime and contemporary issues such as sanctions.

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