Financial Crime World

Combating the Financing of Terrorism in Jordan: Efforts Intensified

=====================================================

The Financial Action Task Force (FATF), a global standard-setting body for anti-money laundering and combating the financing of terrorism, has conducted a thorough evaluation of Jordan’s Anti-Money Laundering (AML) and Combating Terrorism Financing (CFT) regime.

Assessment Criteria

The assessment was based on the following criteria:

  • The Forty Recommendations 2003
  • The Nine Special Recommendations on Terrorism Financing 2001
  • The AML/CFT Methodology 2004

Jordan’s Commitment to Combating Terrorism Financing

Jordan has demonstrated a strong commitment to combating the financing of terrorism, recognizing its importance as a key component in the fight against this global threat. The country’s efforts have focused on:

  • Strengthening its regulatory framework
  • Improving cooperation and coordination between law enforcement agencies
  • Enhancing public awareness about the dangers of terrorist financing

Measures Implemented by Jordan

Jordan has implemented robust measures to prevent the misuse of financial systems for illegal activities, including:

  • Identifying and freezing terrorist assets
  • Tracking and tracing suspicious transactions
  • Preventing the misuse of financial systems for illegal activities

Specialized Units and Task Forces

Jordan has established several specialized units and task forces dedicated to combating terrorism financing, including those responsible for:

  • Investigating and prosecuting cases related to money laundering and terrorist financing
  • Sharing intelligence and coordinating with international partners

International Cooperation

Jordan’s commitment to combating the financing of terrorism is reflected in its membership in various international organizations and agreements, including:

  • The FATF
  • The United Nations Security Council Resolution 1373
  • The Arab League’s Convention on Combating Terrorism Financing

The country has also signed several bilateral agreements with other countries aimed at preventing money laundering and terrorist financing.

Continued Vigilance Required

Despite these efforts, there remains a need for continued vigilance and cooperation between governments, financial institutions, and civil society organizations to combat the complex and evolving threat of terrorism financing. Jordan is working closely with its international partners to stay ahead of this threat and ensure that its AML/CFT regime remains effective in preventing the misuse of financial systems for illegal activities.

Conclusion

Jordan’s efforts to combat the financing of terrorism demonstrate a strong commitment to preventing the misuse of financial systems for illegal activities and disrupting terrorist financing networks. The country’s membership in international organizations and agreements, as well as its implementation of robust measures, have contributed to its efforts in this regard. However, continued vigilance and cooperation are necessary to stay ahead of the evolving threat of terrorism financing.