Jordanian AML/CTF Regulations: Identity Verification and Due Diligence Requirements
As part of its commitment to combating money laundering and terrorist financing, Shufti Pro provides a comprehensive guide to the identity verification and due diligence requirements for businesses operating in Jordan.
Identity Verification: What You Need to Know
According to Jordanian regulations, end-users will be required to provide identity documents and perform random gestures as part of a liveness check. Shufti Pro verifies the authenticity of these documents using its specialized document verification service, which includes checks on security features such as:
- Holograms
- Tapered edges
- Microprinting
Documents Required for Verification
In Jordan, the following documents are considered proof of identity:
- Valid passport
- Current driving license
- National identity card
For address verification, acceptable documents include:
- A current utility bill
- Government-issued document showing the end-user’s address
- Bank statement (no older than three months) that shows the end-user’s address
Timing of Verification
Identity verification is not limited to a one-time process. In fact, it may be required in multiple instances as per regulations. The application and timing of when to deploy identity verification procedures depend on your requirements and conveyance to Shufti Pro.
Politically Exposed Persons (PEPs) and Enhanced Due Diligence Measures
As part of enhanced due diligence measures under Jordanian regulations, you are required to determine if your customer is a PEP or exhibits a higher risk profile. Shufti Pro provides an AML screening service that screens an individual’s selected ID attributes against watchlists of global regulatory authorities, foreign and domestic databases, compromised PEPs, and sanctioned individuals.
Reliance on External Services
While clients may seek the services of a third party for fulfilling AML/KYC obligations, they will remain liable for maintaining regulatory compliance and fulfilling AML and KYC obligations.
Record Retention
According to Jordanian regulations, businesses are required to retain data for not less than five years. This is part of your AML and KYC obligations for due diligence. In cases where this information is processed, collected, and managed by a relevant third party, you are liable to collect all necessary information (Due Diligence Data) from the third party without undue delay.
By understanding these identity verification and due diligence requirements, businesses operating in Jordan can ensure compliance with anti-money laundering and combating the financing of terrorism regulations. Shufti Pro is committed to providing reliable and efficient solutions for businesses seeking to comply with these regulations.