FCA103 - Money Laundering and Fraud

Outline info
Last revision date 2018-09-24 01:00:44.138
Last review date 2018-11-07 14:58:15.6

Subject Title
Money Laundering and Fraud

Subject Description
Fraud and fraudulent practices have been around forever. The advancement of electronic technology, the internet, and the tools driving theses innovations has added layers of complexity available to the fraudster. The course also looks closely a these areas, as well as money laundering and potential terrorist activity. Investigative responses of these types of fraud will also be explored.

Credit Status
One Credit

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Identify and describe the threat and risks of money laundering, particularly as it applies to terrorist activities.
2. Discuss and analyze the domestic and international protocols used to combat money laundering activities. 
3. Describe the elements of an effective Anti-money Laundering (AML) program including identifying the key players, discussing the audit process, and the various indicators or red flags that identify these activities complete with the reporting mechanisms demanded by law. 
4. Describe the various types of money laundering investigations and discuss the steps involved in each of them.
5. Explain the evolution of legislative frameworks for anti-money laundering.
6. Examine proceeds of crime and usage in legitimate businesses.
7. Analyze proceeds of crime data.
8. Critique investigative techniques used in process of crimes investigation.
9. Assess changes in legislation governing the banking and legal industries.

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Execute mathematical operations accurately.

Analyze, evaluate, and apply relevant information from a variety of sources.

Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

Manage the use of time and other resources to complete projects.

Take responsibility for one's own actions, decisions, and consequences.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Topic Outline

  • Financial Transactions and Fraud Schemes
  • Law
  • Investigation
  • Fraud Prevention and Deterrence

Mode of Instruction

This subject is delivered online. This may involve the use of digital materials and/or a text, group discussions, interaction with your instructor and online activities.

Prescribed Texts

Association of Certified Fraud Examiners. (2015). Fraud Examiners Manual (International Ed.) retrieved from: www.acfe.com
CAMLI - Compliance Officer Material online access retrieved from http://www.camli.org/documents/Humber_CO101_Registration_Form.pdf
Beare, M. & Schneider, S. (2007) Money Laundering in Canada: Chasing Dirty and Dangerous Dollars. ISBN: 9780802094179
*purchase online from http://www.utppublishing.com/Money-Laundering-in-Canada-Chasing-Dirty-and-Dangerous-Dollars.html

Reference Material
Various current articles and online resources assigned in the exercises during the course

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.

Modes of Evaluation
Online Delivery:

Type of Assessments:  
Quizzes (8 @ 3 Marks each) 24%
Learning Journal (7 @ 5 Marks each) 35%
Discussion boards (6 @ 3 Marks each) 18%
Short Case 8%
Comprehensive Test 1 15%

Academic Program Manager:
Emiliano Introcaso

Approved by: Academic Program Manager Emiliano Introcaso