EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime

Richard Marley
July 06, 2022
2 minutes read
838

EBRD and the Central bank of Jordan join hands in running campaigns to raise awareness for the transparency of financial institutions in Jordon

In accordance with best practices around the world, the Central Bank of Jordan and the European Bank for Reconstruction and Development (EBRD) have teamed up to encourage increased transparency in Jordan’s banking industry. On July 4 and 5, 2022, a workshop on countering the financing of terrorism (CFT) and anti-money laundering (AML) was held in Amman.

To develop, strengthen and maintain robust controls over the illicit activities of money laundering and terrorist financing the workshop was conducted. It also mentioned the management of sanctions risks which are integral to ensuring secure operations of the financial institutions and banking sectors, in line with international regulations and best practices. They are also major in the development and maintaining a well-organised, resilient and secure banking industry.

Philip ter Woort, the Director of EBRD of the Eastern Mediterranean region said, “We are very pleased to support the Central Bank of Jordan in its work to increase the resilience and competitiveness of the Jordanian banking sector on the basis of best international AML/CFT practices. Maintaining a strong, transparent, well-regulated banking sector is vital for Jordan’s economic growth post-Covid-19.”

Adel Al-Sharkas, Governor of the Central Bank of Jordan, also expressed: “We thank the EBRD for its ongoing support and cooperation. The workshop intends to focus on some of the most important obligations stipulated in AML law, as well as cover the Financial Action Task Force (FATF) standards and requirements to identify and assess the risks of potential breaches, non-implementation or evasion of the targeted financial sanctions. We believe this workshop will help create lasting awareness for the financial institutions in the field.”

Since the start of the investments in Jordon in 2012, the EBRD has issued over €1.7 billion for the initiation of 64 financing projects in the country. These included providing financial support to the Jordanian finance industry via loans from micro, small and medium-sized enterprises, with financial trading facilities as well.

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EBRD and Central Bank of Jordan Raise Awareness Against Financial Crime

How Much Have Australians Lost to Scams?

How do Online Recruiting Scams Work?

Spotting the Signs of Recruitment Fraud

High Profile Criminal Cases of Recruitment Fraud

1. Europol Arrested a Gang Involved in €20 Million Employment Fraud

2. Hampton Gang Member Convicted for Pandemic Employment Fraud

Talent Acquisition Fraud and the Role of Law Enforcement Authorities

1. FBI Issued Instructions to Avoid Employment Scam

2. UK Government – Raising Awareness of Employment Scams

How Shufti Pro can Help

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