Regulatory Alerts2018-11-14
Added · Updated
Circular to Licensed Exchange Companies Regarding FATF High-Risk and Follow-Up Jurisdictions
The Central Bank of Jordan directs licensed exchange companies to apply enhanced due diligence measures in accordance with the Financial Action Task Force (FATF) standards and prevailing legislation. The circular identifies specific high-risk jurisdictions and countries under increased monitoring based on FATF public statements issued on October 19, 2018. Exchange companies are required to consult the official FATF lists published on the AMLU website to ensure compliance with international anti-money laundering and counter-terrorism financing requirements.
In the Name of Allah, the Most Gracious, the Most Merciful
[Logo of the Central Bank of Jordan]
Reference No.: 1/9/14677 Date: 3/3/1440 AH Corresponding to: 11/11/2018 AD
Circular to Licensed Exchange Companies
Greetings,
Based on the provisions of the prevailing Anti-Money Laundering and Counter-Terrorism Financing Law, Article 17/A of the Exchange Operations Law No. (44) of 2015, and Article 6, Paragraph 1 of the prevailing Instructions for Combating Money Laundering and Terrorism Financing Operations for Exchange Companies, and as part of the continued efforts of the Central Bank of Jordan to assist exchange companies in keeping pace with best practices and adhering to international standards for combating money laundering and terrorism financing, we inform you that the Financial Action Task Force (FATF) has issued its lists via the electronic links below regarding high-risk countries and countries subject to follow-up in the field of compliance with anti-money laundering and counter-terrorism financing standards, emphasizing the necessity of taking due diligence measures in accordance with the requirements mandated by the Financial Action Task Force (FATF) and prevailing legislation:
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High-risk countries according to the general statement issued by the Financial Action Task Force (FATF) on 2018/10/19: http://www.fatf-gafi.org/publications/high-riskandnon-cooperativejurisdictions/documents/public-statement-october-2018.html
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Countries subject to follow-up in the field of compliance with anti-money laundering and counter-terrorism financing standards, issued by the Financial Action Task Force (FATF) on 2018/10/19: http://www.fatf-gafi.org/publications/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-october-2018.html
Noting that the above lists are published on the website of the Anti-Money Laundering and Counter-Terrorism Financing Unit (www.amlu.gov.jo) under the title "Financial Action Task Force (FATF) Lists"
Please accept our highest respect,
The Governor Dr. Ziad Fariz