The Anti-Money Laundering Framework in Jordan

The Anti-M championy Laundering Framework in Jordan: New practice of laws and Regulations Bashar H. Malkawi* I. Introduction Money launder is a major problem for Jordan and the international community. Laundering criminally-derived progeny has become a lucrative and sophisticated business. Money clean challenges the maintenance of order in Jordan and threatens the integrity and reliability of its monetary institutions and commerce. In recognition of this pervasive problem, Jordan passed several laws and regulations. These laws and regulations, some of which ar sore, include the lawfulness against Narcotic Drugs and Psychotropic Substances of 1988, Provisional Law on Monitoring Insurance Business of 2002, Central stick Circular on Regulations of Anti-Money Laundering of 2006, and the new Anti-Money wash Law of 2007. All these laws and regulations aim to decrease the level of financial crimes in Jordan and facilitate the development of a sound economy by attracting legitimate foreign investments. This article focuses on Jordans adoption of anti- bills laundering laws and regulations. Part II provides a brief introduction to money laundering. Part III discusses the history of Jordans efforts to combat money laundering.

In addition, it analyzes the new anti-money laundering law and identifies its weaknesses. Part IV provides an overview of the join States (U.S.) money laundering policies compared with those of Jordan. Part V concludes that while the new Jordanian laws and regulations facilitate attempts by the Jordanian government to subdue money laundering, further reform is necessary. II. Money Laundering: comment and Process One goal of every criminal is to get away clean. Money laundering hides the trail of illegal profits and then aids the getaway. The term money laundering is of recent and debated origin. Whatever the nonliteral source of the term, money laundering is the process by which one conceals the existence,... If you want to get a full essay, order it on our website: Ordercustompaper.com

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