The Jordanian Anti Money Laundering Unit (AMLU), in partnership with the Danish Ministry of Foreign Affairs and its implementing partner, the Global Center, held a workshop to share experiences in developing and upgrading compliance programs for the private sector and designated non-financial businesses and professions (DNFBPs).
The workshop was opened by Ms. Rand Gharandok, First Senior Internal and International Officer, Jordanian AMLU, and Mr. Suleiman Al Hawari, Senior Officer, Central Bank of Jordan (CBJ), who provided an overview of the steps that Jordan has taken to ensure that the private sector and DNFBPs were aligned with the Jordanian national anti-money laundering and countering the finance of terrorism (AML/CFT) framework. Workshop participants benefited from the experience of the Union of Arab Banks which was represented by Dr. Ali Zbeeb, Senior Legal Expert, who presented on issues of correspondent banking and bank de-risking. Australian and Danish national experiences were also discussed by Mr. Todd Harland, Former Manager, Australian Transactions Reports and Analysis Center, and Mr. Rob Lawson, Former Financial Investigations Team Leader, Australian Federal Police, as well as by Mr. Jens Kauffeld Andreasen, Senior Regional Adviser on Countering Illicit Financial Flows, Danish Ministry of Foreign Affairs. Ms. Liat Shetret, Senior Advisor for Financial Integrity and MENA Programs at the Global Center, also provided welcoming remarks and delivered sessions on issues of bank de-risking, FinTech, and RegTech.
Over sixty representatives from Jordan’s AMLU, the CBJ, insurance sector, non-profit sector, money exchange houses, customs, post service providers, lawyers, jewelers, accountants, and real estate office owners attended the workshop. Additionally, members of the Jordanian National Committee for AML/CFT were in attendance including compliance officers and risk managers from the country’s twenty-five public and private banks.
Over the course of the three days, participants discussed ways to develop and upgrade compliance programs to align with international standards, the role of financial institutions and DNFBPs in countering illicit financial flows, their challenges, and the adoption of a risk-based approach by regulators, supervisors, and reporting entities. Presentations included information regarding international standards and FATF recommendations, suspicious activity reports, opportunities and challenges for using new technology-based tools for combating cybercrime, and the exploitation of virtual currencies.
This activity was part of an ongoing program supported by Denmark and implemented by partners in Jordan, Lebanon, and Iraq—to reinforce their work and partnership in the context of the Counter ISIL Finance Group.
For additional information about the workshop or this project please contact Ms. Liat Shetret, LShetret@globalcenter.org.