Regulatory Alerts2023-09-24
Added · Updated
Circular on Security Procedures and Controls for Cash Transportation by Licensed Money Exchange Companies
The Central Bank of Jordan mandates that licensed money exchange companies equip cash transfer vehicles with satellite tracking and surveillance cameras connected to their headquarters, while also requiring vehicles to meet international safety standards. The circular requires companies to obtain insurance policies covering all potential risks associated with cash transfers and to ensure complete confidentiality during these operations. Additionally, companies must employ qualified staff with military or security experience on their official rosters for cash transfer duties and include these measures in their internal audit plans.
Topics
safeguarding
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