FAQ

What is Money Laundering?

Any act involving the acquisition, disposal, transfer, management, preservation, replacement, deposit, investment, manipulation of money or any other act of which the act is intended to conceal or disguise its origin, true nature, location, movement, disposition, ownership or related rights. Also preventing the knowledge of who committed the crime from which the money was obtained, knowing that this money is obtained from any crime punishable under the provisions of the legislation in force in the Kingdom or crimes for which international agreements ratified by the Kingdom stipulate that their proceeds are considered the subject of the crime of money laundering.

What is the Financing of Terrorism?

Providing, collecting, securing or transferring funds by any means, directly or indirectly, , whether from a legitimate or illegitimate source of a terrorist, or an organization, an association, a terrorist group or a terrorist act, whether these funds were used in whole, in part, or not, and even if the terrorist act does not occur or is not attempted.

Who is the Money Launderer?

A person is deemed to have committed a money laundering offence in the following cases:

• When he knows that the funds are the proceeds of a predicate offence, whether he perpetrated the predicate offence or not, if he intentionally commits any of the following acts:

• Convert or transfer such funds for the purpose of concealing or disguising their illicit origin, for the purposes of helping any person involved in the commission of the predicate offence or that contributed to its commission.

• Conceal or disguise the true nature source, location, disposition, movement or ownership of funds or any of the rights with respect to such funds.

• Acquire, use, manage, invest, or possess such funds.

Any person who attempts to commit any of the acts in subparagraph (1) of this paragraph, or aids, abets, facilitates or hides the commission of such an offence, or abets, acts as an accomplice, or associates with, or conspires to attempt such an offence.

Who is the Terrorist Financier?

A person is deemed to have committed a terrorist financing offence in the following cases.

When he, by any means, directly or indirectly, willfully provides or collects funds, whether from a legitimate or illegitimate source, with the knowledge that they are to be used, in full or in part to carry out a terrorist act, or by a terrorist, or terrorist organization.
When he intentionally contributes to the commission of a terrorist financing offence with a group of persons or supports them to commit such offence.
When he finances the travel of individuals to a State other than their State of residence or nationality for the purpose of the perpetration, planning, preparation of, participation in committing or facilitation of committing terrorist acts or providing or receiving of terrorist training.
When he participates in committing any of the terrorist financing offences set out in this paragraph, or organize or direct others to commit such offence.
When he attempts to commit any of the offences set out in this paragraph.

What are the penalties for money laundering/terrorist financing?

Without prejudice to any more severe penalty stipulated in any other law, any person who commits, or attempts, or abides, or participates, or instigate, or conspires to commit a money laundering or terrorist financing offence as set out in this law, shall be punished by temporary imprisonment with hard labor and with a fine of no less than the proceeds of the crime, along with confiscation of the proceeds of the crime, revenues and interests thereof, and any instrumentalities or tools used or intended to be used in committing the offence, while taking the rights of bona fide third party into account.

What does the Predicate Offence mean?

The predicate offence is defined according to the effective Anti-Money Laundering and counter Terrorism Financing Law as any felony or misdemeanor punishable pursuant to legislation in effect, The Kingdom has adopted the (all crimes) approach to defining predicate offences, including the offence of corruption, bribery, fraud, illicit trafficking in narcotic substances and weapons, forgery, robbery, theft, extortion, and others.

What does the Real Beneficiary mean?

The natural person who ultimately owns or controls a customer, directly or indirectly or the person on whose behalf the transactions are being conducted or that ultimately controls a legal person or a legal arrangement.

The Entities that are Subject to the provision of the law:

Financial institutions including:

First: Banks operating in the Kingdom.

Second: Exchange companies and money transfer companies.

Third: Persons or companies exercising any of the activities subject to the supervision and licensing of the Securities Commission.

Fourth: Insurance companies that are licensed to conduct insurance business in the Kingdom, and insurance brokers and agents.

Fifth: Entities exercising any of the following financial activities:

Granting all types of credit.
Providing payment and collection services.
Issuing and managing payment and credit instruments.
Trading in stock exchange market and capital market instruments for its own account or for its clients' account.
Purchasing and selling debts with or without the right of recourse.
Financial leasing
Managing investments and financial assets on behalf of a third party
Accepting deposits

Sixth: Entities providing postal services according to provisions of legislation in force.

The following designated non-financial businesses and professions:

First: Persons or entities working in real estate trading and development.

Second:Persons or entities working in precious metals and stones dealing.

Third: Lawyers, other independent legal Professional and accountants, when they carry out any of the following activities when they prepare or carry out financial transactions on behalf of their clients:

Sale and purchase of real estates or commercial stores.
Management of funds, securities or any other financial assets.
Management of bank accounts, postal saving accounts or investments accounts in local and international financial markets.
Take necessary legal procedures for establishing or managing any legal Person.
Organization of contributions related to establishing, operating or managing companies.

The Cabinet may, upon the recommendation of chairman of the committee, decide to apply the provisions of this law, regulations, instructions and decisions issued pursuant thereto to any entity, profession or activty

What are the Requirements for Notification of Suspicious Operations?

Reporting entities (subject to the provisions of the Anti-Money Laundering and counter Terrorist Financing Law) notify the Unit of operations suspected of being linked to money laundering, the associated predicate offence, or the Terrorist Financing according to the form for each reporting entity available on the Unit’s website under the tab " Reporting entities/Suspicious Activity Reports (SARs) Forms "

How to submit suspicious reports to the unit?

Suspicion reports are submitted to the unit via the (go AML) system. If the system is not available, suspicion reports are submitted to the unit either by hand at the following address:

Shmeisani, Amman

Or via the e-mail of the unit (Info@amlu.gov.jo) the provider Is password-protected with prior coordination with the unit.

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