Financial Crime World

Jordan Takes Significant Steps in Combating Financing of Terrorism

Amman, Jordan - In its latest efforts to combat the financing of terrorism, Jordan has made significant strides in implementing the technical requirements of the Financial Action Task Force (FATF) Recommendations.

Progress and Achievements

According to a recent evaluation by international experts, Jordan has demonstrated substantial progress in its fight against terrorist financing. The report highlights several areas where Jordan has made notable improvements, including:

  • Risk Assessment: Jordan has implemented a risk-based approach to assessing the risks of money laundering and terrorist financing.
  • National Cooperation: The country has strengthened its national cooperation and coordination in combating terrorism.

Strengthened Laws and Measures

Jordan has also strengthened its laws related to money laundering and terrorist financing by introducing new measures such as:

  • Confiscation and Provisional Measures: To disrupt the flow of funds to terrorist organizations.
  • Targeted Financial Sanctions: Against individuals and entities linked to terrorism.
  • Improved Transparency: In beneficial ownership of legal persons and arrangements.

Challenges Ahead

While Jordan still faces challenges in implementing some of the FATF Recommendations, particularly with regards to:

  • Financial Institution Secrecy Laws: And regulation and supervision of non-profit organizations.
  • Ongoing Efforts Required: To strengthen its measures and ensure the integrity of its financial system.

“We are committed to combating the financing of terrorism and money laundering,” said a senior official from the Jordanian government. “We recognize that this is an ongoing effort and we will continue to work with international partners to strengthen our measures and ensure the integrity of our financial system.”

International Recognition

Jordan’s efforts have been recognized internationally, with the FATF acknowledging the country’s progress in its latest evaluation. The report recommends continued technical assistance and cooperation between Jordan and other countries to further enhance its anti-money laundering and counter-terrorism financing regime.

Vow to Continue Improvement

The government has vowed to continue working towards full compliance with the FATF Recommendations, recognizing the importance of international cooperation in combating the global threat of terrorism.