Financial Crime World

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Jordan Enforces Strict Banking Regulations to Combat Money Laundering and Terrorist Financing

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In response to growing concerns over global financial security, Jordan has taken significant steps to bolster its anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. Two key regulations have been introduced by the country’s authorities to ensure that banks and financial institutions adhere to international standards and prevent illicit activities.

Regulation No. 40 for the Year 2009: Anti-Money Laundering and Counter-Terrorist Financing Unit

This regulation governs the Anti-Money Laundering and Counter-Terrorist Financing Unit, which is responsible for overseeing and coordinating AML/CTF efforts in Jordan. The regulation outlines the unit’s powers, duties, and responsibilities, including its ability to share information with international authorities.

Regulation No. 44 for the Year 2008: National Anti-Money Laundering and Counter-Terrorist Financing Committee

This regulation regulates the National Anti-Money Laundering and Counter-Terrorist Financing Committee, which is tasked with implementing AML/CTF policies and strategies in Jordan. The regulation sets out the committee’s composition, functions, and powers, as well as its relationship with other relevant authorities.

Key Objectives

Both regulations are aimed at ensuring that banks and financial institutions in Jordan comply with international standards for AML/CTF, including those set by the Financial Action Task Force (FATF). By implementing these regulations, Jordan is demonstrating its commitment to combating money laundering and terrorist financing, while also protecting the integrity of its financial system.

Accessing the Regulations

The two regulations are available for viewing and downloading on the official government website. This provides a valuable resource for financial institutions and stakeholders seeking to stay up-to-date with Jordan’s AML/CTF regulatory framework.

  • Visit the official government website to access the regulations.
  • Review the regulations to ensure compliance with international standards for AML/CTF.
  • Stay informed about Jordan’s efforts to combat money laundering and terrorist financing.