Jordan’s Financial Crime Prevention Efforts Falter as Global Threat Persists

Despite significant progress made in recent years, Jordan remains vulnerable to the scourge of financial crime, with an estimated $800 billion to $2 trillion laundered globally every year. The kingdom’s anti-financial crime framework, while showing signs of improvement, still falls short of effectively combating this national security threat.

A Need for Sustained Collective Efforts

In a series of whitepapers published in conjunction with the International Institute of Finance (IIF), experts have emphasized the need for sustained collective efforts to drive reform across the global framework. The latest installment, “Global Financial Crime Prevention, Detection, and Mitigation,” provides a constructive assessment of Jordan’s anti-financial crime landscape, highlighting both opportunities and challenges.

Key Findings

• Desk research and engagement with senior public and private sector stakeholders were used to examine reforms at the international, regional, and national levels.
• The paper offers updated reflections and recommendations on how the public and private sectors can work together to improve outcomes in combating illicit financial flows, addressing evolving capabilities, risks, and priorities.

The Need for Adaptation

The findings of this report serve as a stark reminder that Jordan must continue to adapt its approach to stay ahead of increasingly sophisticated criminals and money launderers. As the global threat persists, it is imperative that the kingdom’s public and private sectors collaborate more effectively to:

• Prevent financial crime
• Detect and mitigate illicit financial flows
• Safeguard national security by protecting the integrity of the financial system

By working together to address these challenges, Jordan can ultimately protect its financial system and safeguard national security.