Regulatory Alerts2018-07-05
Added · Updated
Anti-Money Laundering and Counter-Terrorist Financing Instructions for Money Exchange Companies No. (2018/70) and Amendments
The Central Bank of Jordan issues Instructions No. (2018/70) and their amendments, which establish comprehensive anti-money laundering and counter-terrorist financing obligations for licensed money exchange companies operating in Jordan. The document mandates rigorous risk assessment methodologies, enhanced due diligence for high-risk clients including Politically Exposed Persons, and strict customer identification and verification procedures. It also regulates the reliance on third parties for due diligence and requires annual reporting of risk assessments to the regulator.