Instructions of Anti Money Laundering Concerning Money Exchange Companies

Instructions of anti money laundering concerning Money Exchange Companies Published Pursuant to the provisions of the Articles 14/D of the Anti Money Laundering Law No. (46) Of 2007
Article (1): Definitions:

1. The following words and phrases, wherever mentioned in this instructions
   shall have the meanings indicated thereto hereunder.
   Unit: The Anti-Money Laundering unit (AMLU) established pursuant to the provisions of the Anti-Money Laundering Law. Exchange Relationship: The relationship that arises between the money changer and the customer which is related to financial activities and services provided by the money changer to his customers. Suspicious Transactions: Any transaction thought (believed) for any justified reason that it is related to funds (proceeds) derived or yielded directly or indirectly from committing any crime that produce (generate or imply) a criminal penalty. Beneficial Owner: The natural person who owns or exercise ultimate effective control over a customer in a business relationship with a bank or a natural person on whose behalf a transaction is being conducted; it also incorporates those persons who exercise ultimate effective control over a legal person. Transfer: Any transferring transaction made up by the money changer via any means on behalf of the issuer of the transfer in a way that the money to be sent (transferred) to another money changer, bank or any other body (party) that being allowed to receive transfers in accordance to the provisions of existing legislation in the State to whom the transfer has been sent, so the beneficiary can receive the transfer regardless of the fact that the issuer of the transfer and the beneficiary are the same person.
2. For the purposes of this law, the definitions mentioned in The Money
   Exchange Business Law No. (26) Of 1992 and Anti Money Laundering

Law No. (46) Of 2007 shall apply accordingly, unless otherwise indicated by context.
Article (2): The provisions of this law shall apply to the money changers whom
were licensed by the central bank.
Article (3): Customer Due Diligence:
First: General Rules:
1. Customer Due Diligence shall be defined as verifying and identifying
the identity of the customer and the beneficial owner.
2. The money changer is not permitted to deal or to engage in an
exchange relationship with persons of unknown identity or those of anonymous or fictitious names.
3. The money changer shall undertake customer due diligence
concerning the customers in the following cases:
A. If the value of the transaction or several transactions appear to be linked exceeds J.D 10.0 thousand, or its equivalent amount in foreign currencies. B. If the transaction is suspected for any reason.
4. If the money changer is unable to complete customer due diligence
measurements, then, the money changer shall neither engage in any exchange relationship with the customer, nor implementing any transactions for his benefit. Second: procedures of verifying and identifying customer identity.
1. The money changer shall view the official documents to verify and
check the customer's identity, in addition to obtain copies of this documentation signed to certify that they are original copies.
2. while verifying the identity of the ordinary person, the following
shall be taken into account:
A. The data of identification shall includes the customer's full name, nationality, permanent residence address, telephone number, the national number and information of the identity document for Jordanian people and passport number for Non-

Jordanians persons, as well as any other information deemed necessary by the money changer. B. As for the persons who are less or incompetence, it is eligibility to obtain the documents related to them and their legal representatives in the exchange relationship.
C. Incase any other person deals with the money changer on
behalf of the customer, then the original official documents or their certified copy that needed for authorizing this person shall be checked well. It is also essential to maintain a copy of those documents in addition to the necessity of verifying the identity of the customer or whose deputize for in accordance to the procedures of verifying the identity of the customer that stated in these instructions.
3. while verifying the identity of the legal person, the following shall
be taken into account:
A. The data of identification shall includes name of legal person, legal form, the address of the headquarters, the type of activity, date and number of registration, names of commissioners (authorized persons) who will deal on behalf of the customer and their nationalities, telephone numbers, the purpose of dealing and any other information deemed necessary by the money changer including the beneficial owner. B. Obtaining the documents which prove any normal persons purported to act on behalf of the legal person and the nature of their inter-relationship in addition to identify his identity in accordance to the procedures of verifying the identity of the customer that stated in these instructions.
Article (4): situations where enhanced (intensive) customer due diligence is
required from the money changer:
1. Transactions related to customers from countries which do not have
appropriate anti money laundering systems.

2. Transactions with customers that are hold or have held senior public
position in a foreign country such as Head of State or Government, politically exposed persons, judge, military exposed persons, senior government position or prominent figures in a political party.
3. Unusually large or complex transactions.
Article (5): (A) Provisions of this article are applied on transfers which exceeds
J.D 700.0 or any equivalent amount in foreign currencies that been sent or received by the money changer subject to these instructions. (B) Money changer's obligations concerning transfers:
1. Obtaining complete originator information which includes:
originator name, national number, ID number for Jordanians, Nationality and passport number for Non￾Jordanians in addition to undertaking Customer due diligence procedures mentioned in Article (3) of these instructions.
2. The money changer should be able to provide the
beneficiary body and the relevant authorities with all required information within three business days of receiving a request.
3. The money changer should be able to respond upon the
request of relevant official authorities.
4. The money changer should adopt an effective risk-based
procedures to deal with transfers lacking complete originator information, for example, the request of incomplete information from the originator bank or money changer, otherwise, the money changer shall undertake risk￾based procedures including refusing the transfer which will be a reliable indicator to assess the extent to which the money changer deems the transaction a suspected one, and to report the incident to the Unit.

(C) Intermediary Money Changers Obligations:
1. If the money changer processes an intermediary element of
chain rather than being an originator or a beneficiary, then the money changer must ensure that all information that accompanies a transfer is restrained with the transfer.
2. Where technical limitations prevent the money changer
from retaining the information accompanying a transfer, it should maintain information as it is received for five years regardless of the information's completeness, and the bank should be to provide the available information to the beneficiary bank or money changer within three business days of receiving the request.
3. If the intermediary money changer received incomplete
originator information, then it should inform the beneficiary bank when conducting the transfer.
Article (6): Maintaining records and documents.
The money changer shall undertake the following:
A. Maintaining all records and document related to customer due diligence requirements as stated in Article (3) for at least five years following completion of the transaction. B. Maintaining records and supporting evidences of the financial transactions including original documents or acceptable copies by courts according to the applicable regulations in Jordan for at least five years following completion of the financial transaction.
C. Undertaking the needed procedures stated in clauses (A and B) of
this Article where it can fully and quickly respond to the Unit and relevant authority's request of any data or information in a specific period.
Article (7): Reporting of suspicious transactions.
First: The money changer shall undertake the following:

1. Nominating one of the company's employees to be responsible for
reporting suspicious transactions to the Unit.
2. Nominating the employee who will serve as a substitute for
reporting employee in the event of his absence and informing (notifying) the Unit if any change occurs.
3. It is impermissible to draw the customer's or the beneficial owner's
attention directly or indirectly or by any mean about any reporting procedures on suspected financial transactions or related data.
4. Special records of suspected transactions containing copies of
reports, data, documents related to these suspected transactions should be maintained for five years at least or up to the date of the decision made upon it whichever is later. Second: The person who responsible for the reporting shall immediately notify the Unit according to the confirmed form, and shall cooperate and provide the Unit with data and to facilitate its ability to view the records and information in order to perform its duties.
Article (8): The external auditor shall, as one of his duties, ensure the compliance
of the money changer with this regulation, the adequacy of the money changer related policies and procedures and reporting its own findings in his report with the necessity of notifying the Central Bank of any violations as it occurs (discovered).
Article (9): The money changer should establish ongoing employee plans and
programs in money laundering, including information on money laundering methods, the manner in which it is discovered and reported, and the manner of dealing with the suspected customers.
Article (10): Final Rules:
First: Regulations of Anti Money Laundering No. (10/2001) dated August 5, 2001 are hereby cancelled. Second: These Instructions are effective as of date. Attachments: Suspicious transaction report and filling (reporting) guide.