Jordan Tightens Grip on Anti-Money Laundering Regulations to Combat Financial Crime

Amidst growing concerns over financial crime and terrorist financing, Jordan has strengthened its anti-money laundering (AML) regulations to ensure compliance with international standards.

Key Developments

• The country’s government has issued two key regulations to regulate the Anti Money Laundering & Counter Terrorist Financing Unit and the National Anti Money Laundering & Counter Terrorist Financing Committee.
• Regulation No. 40 for the year 2009 outlines the powers and responsibilities of the Anti Money Laundering & Counter Terrorist Financing Unit, including its mandate to investigate suspicious transactions and freeze assets linked to terrorist financing.
• Regulation No. 44 for the year 2008 governs the National Anti Money Laundering & Counter Terrorist Financing Committee, establishing its composition, functions, and powers to coordinate AML efforts among various government agencies.

Importance of Regulations

Experts agree that these regulations are crucial in Jordan’s efforts to combat financial crime and terrorist financing. “These regulations demonstrate Jordan’s commitment to implementing robust AML measures to prevent illicit activities,” said a leading financial analyst.

The country’s financial regulators have emphasized the importance of compliance with international standards, citing the need for effective AML mechanisms to protect the financial system and maintain investor confidence.

Accessing the Regulations

The full texts of the regulations are available for download on the official government website.