Regulatory Alerts2018-06-26
Added · Updated
Anti-Money Laundering and Counter-Terrorist Financing Instructions for Licensed Banks No. (14/2018)
The Central Bank of Jordan mandates licensed banks to implement a risk-based approach for managing money laundering and terrorist financing risks, including annual risk assessments and customer classification. Banks are required to perform enhanced due diligence, verify beneficial owners, and monitor transactions, with specific thresholds for occasional customers and wire transfers. The instructions define key terms, establish reporting obligations to the central bank, and outline procedures for handling high-risk clients and shell entities.