Gwybodaeth am Fodiwlau
Course Delivery
Assessment
| Assessment Type | Assessment length / details | Proportion |
|---|---|---|
| Semester Assessment | Oral Presentation Oral presentation supported by a handout. | 20% |
| Semester Assessment | Written Assignment 6000 Words | 80% |
| Supplementary Assessment | Written Assignment 6000 Words | 80% |
| Supplementary Assessment | Oral Presentation Oral presentation supported by a handout, to be delivered if failed. | 20% |
Learning Outcomes
On successful completion of this module students should be able to:
Students will develop knowledge and understanding of the criminal financial crime landscape internationally
Students will gain detailed knowledge of the relevant legal rules and also how the efforts globally to combat financial crime have developed.
The roles of the relevant global institutions will be discussed giving students the opportunity to understand how they work and their level of effectiveness.
Demonstrate a detailed understanding of the fundamental principles, doctrines and concepts associated with international financial crime.
Use advanced legal skills and information in order to critically evaluate complex and specialised provisions and their impact on financial crime, both at a national and international level.
Demonstrate the ability to employ advanced skills and analytical tools to conduct research that shall be useful for both practitioners and academic researchers.
Brief description
The increase in financial fraud in the UK, and in other countries, is attracting significant interest and both money laundering and the use of offshore financial centres and their role in tax evasion are the subject of significant contemporary academic debate. Such a module is also attractive to students as it assists in providing career opportunities in legal practice, financial regulation and compliance and law enforcement.
Aims
The module would provide students not only with an understanding of the legal and regulatory frameworks but also a practical introduction to global financial markets and how they can be manipulated for criminal purposes.
Content
2. An introduction to the international efforts and the institutions involved, such as the Financial Action Taskforce, the International Monetary Fund and the World Bank.
3. The concept of white collar crime and recent developments such as the emergence of financial technology (FINTECH)
4. What is money laundering? A guide to money laundering and the national and international efforts to prevent and control money laundering activity. Explore the process used by criminals to conceal the origins of their wealth and to make their assets 'respectable'
5. The UK Legislation - the Proceeds of Crime Act 2002 (as amended( will be examined together with a study of the work of the Financial Action Taskforce on Money Laundering which has produced recommendations for international best practice.
6. The financing of terrorism.
7. Financial Fraud is the fastest growing criminal activity in many countries, including the United Kingdom, the United States and the European Union. It is also a growing problem in many of the developing markets such as Dubai, Mumbai and Shanghai. The various types of fraudulent activity will be examined and the impact of fraud on victims will be addressed. The law in the UK will be the starting point with an examination of the Fraud Act 2006 and the Economic Crime and Corporate Transparency Act 2023. Various jurisdictions will also be examined as well as looking at international cooperation.
8. Insider Dealing - This is the illegal dealing in shares or other securities by someone with inside knowledge of unpublished information that would affect the price of these financial instruments.
9. Bribery and Corruption. Bribery is the giving or receiving of a financial or other reward to improperly perform a position of trust. It often involves corrupt public officials. The starting point will be the Bribery Act 2010 in the UK before examining how fraud is tackled elsewhere.
10. Financial Crime and Financial Technology (FINTECH).This seminar will focus on how the technological developments in the financial sector can be used for financial crime and what can be done to counter this. Developments such the growth of cryptocurrencies and the ‘Dark Web’ provide significant opportunities for criminals to launder money, commit various types of fraud and other types of criminal activity.
11.International Tax Evasion. What is tax evasion and how does it differ from tax avoidance? The role of offshore financial centres. What are they and why are they allowed to exist? The international efforts to fight tax evasion will be examined. This area is controversial with many countries providing bank secrecy thereby making it easy for those who want to evade tax to be able to do so.
Module Skills
| Skills Type | Skills details |
|---|---|
| Creative Problem Solving | Assignment and oral presentation |
| Critical and analytical thinking | Studying the material and writing the assignment |
| Digital capability | Module requires the use of IT as a core resource for locating legal material. |
| Professional communication | Assignment and oral presentation, participation with discussion group |
| Reflection | Gaining confidence in legal thinking and analysis |
| Subject Specific Skills | The module seeks to further develop practical legal skills and a theoretical engagement with international financial crime law |
Notes
This module is at CQFW Level 7