Financial Crime World

Jordanian Financial Institutions Urged to Obtain Compliance Certifications Amidst Growing Global Scrutiny

As the global financial landscape continues to evolve, Jordan’s financial institutions are being urged to obtain compliance certifications in order to stay ahead of the curve and avoid potential regulatory pitfalls.

The Importance of Compliance Certifications

The Global Compliance Institute (GCI), a renowned authority in the field of compliance and anti-money laundering (AML), has launched its Certified Compliance Manager (CCM) certification program specifically designed for workers in the Jordanian financial sector. This certification aims to equip participants with a comprehensive understanding of compliance and AML regulations.

Program Highlights

The CCM certification program covers a wide range of topics, including:

  • Customer onboarding and Know Your Customer (KYC)
  • Anti-money laundering and counter-terrorist financing
  • Advanced AML investigations
  • International sanctions and embargoes
  • Regulatory compliance management
  • Foreign accounts tax compliance act (FATCA) and common reporting standards (CRS)

Through this program, participants will gain practical knowledge on how to:

  • Build effective compliance and AML programs
  • Identify high-risk customers and transactions
  • Develop a risk-based methodology aligned with the Financial Action Task Force (FATF) recommendations

Modern Developments and Technologies

The program also delves into modern developments and technologies, such as:

  • Online customer onboarding
  • Digital identity
  • FinTech
  • Virtual currencies
  • Blockchain technology

This ensures that participants are well-equipped to navigate the rapidly changing regulatory landscape.

The Growing Need for Compliance Certifications

With growing global scrutiny on financial institutions’ compliance practices, obtaining a CCM certification is becoming increasingly essential for professionals in the Jordanian financial sector. By obtaining this certification, Jordanian financial institutions can demonstrate their commitment to compliance and AML best practices, ensuring the integrity of their operations and maintaining customer trust.

Who Can Benefit from the Program

The CCM certification program is available to workers in supervisory authorities, such as:

  • Central banks
  • Financial sector regulatory authorities
  • Financial intelligence units
  • Tax authorities
  • Related ministries and government bodies

It also targets professionals working at compliance and AML solutions vendors.

By obtaining a CCM certification, Jordanian financial institutions can stay ahead of the curve and maintain their reputation in the industry.