| CODE | BKF1204 | |||||||||
| TITLE | Marketing and Legal Issues in International Trade | |||||||||
| UM LEVEL | 01 - Year 1 in Modular Undergraduate Course | |||||||||
| MQF LEVEL | Not Applicable | |||||||||
| ECTS CREDITS | 5 | |||||||||
| DEPARTMENT | Banking and Finance | |||||||||
| DESCRIPTION | The first part of the study-unit will give entrants into the profession (as well as some seasoned professionals) a broad overview of the types of financial crime that are prevalent in the finance industry in general with particular emphasis on Trade Based Money Laundering. It will also review the issues relating to the vulnerability of trade finance to money laundering, terrorist financing, fraud and other types of financial crime. The second part of the study-unit concerns marketing strategies in international trade, and reviews salient aspects relating to international entry modes, customer relationship management and the impacts of e-commerce strategies. Study-unit Aims: The unit aims at achieving a good grounding relating to money laundering tactics, and equipping participants with the knowledge and skills required to combat financial crime. The unit also explores the possible financial loss and regulatory fines arising out of fraudulent activities. In addition it discusses the possible reputational damage arising out of failure to implement adquate systems and controls to mitigate financial crime. The primary objective of the marketing component of this study-unit is to help the participant understand the main concepts associated with marketing communications. Internet business models are explained and strategies on how to acquire and retain customers are discussed. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: 1. Demonstrate an understanding of the legal framework that requires firms to take pro-active measures to combat money laundering and terrorist financing 2. Comprehend the various stages of money laundering and terrorist financing 3. Express an overview of the various types of fraud including technology-based crime 4. Demonstrate an understanding of how trade finance is vulnerable to financial crime in general by examining case studies 5. Comprehend how to construct an AML/CTF program that consists of documented policies and procedures 6. Appreciate the various modes of entry which may be pursued in penetrating international markets. 7. Recognise the importance and impacts of e-marketing strategies. 2. Skills: By the end of the study-unit the student will be able to: 1. Recognize ‘red flags’ that may arise out of the Know Your Customer (KYC) due diligence process. 2. Assess the risk of a particular customer as high, medium or low. 3. Distinguish between adaptation and standardisation of production activities and understand the pros and cons of both. Main Text/s and any supplementary readings: - Money Laundering – A Concise Guide for All Business – Doug Hopton (2nd Edition Published by Gower). - Best Practices Paper on Trade Based Money Laundering – Financial Action Task Force. Available on internet: www.fatf-gafi.org/media/fatf/documents/recommendations/BPP Trade Based Money Laundering 2012 COVER.pdf - The Wolfsberg Trade Finance Principles (2011). Available on internet: http://www.wolfsberg-principles.com/pdf/Wolfsberg_Trade_Principles_Paper_II_(2011).pdf - Chaffey, D., Ellis-Chadwick, F., Johnston, K., and Mayer, R.(2012), Digital Marketing: Strategy, Implementation & Practice, Fifth Edition, Prentice Hall. ISBN-13: 978-0273746102. - Peppers, D. and Rogers, M.(2011), Managing Customer Relationships: A Strategic Framework, Second Edition, John Wiley & Sons. ISBN-13: 978-0470423479. - Lymbersky, C. (2008), Market Entry Strategies: Text, Cases And Readings In Market Entry Management, Management Laboratory Press. ISBN-13: 978-3981216295. - Keegan, J. and Green, M. (2012), Global Marketing, Seventh Edition, Prentice Hall. ISBN-13: 978-0132719155. |
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| STUDY-UNIT TYPE | Lecture | |||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Claire Briffa Michael Davis |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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