Summary of the National Risk Assessment Report on Money Laundering and Terrorist Financing for the Hashemite Kingdom of Jordan:
The national risk assessment on money laundering and terrorist financing is the tool used by countries in order to determine what risks they face in addition to analyzing and understanding these risks. The risk-based approach is considered a major component of the anti-money laundering and terrorist financing systems, and a good understanding of the risks helps countries build an effective system, determine their priorities and direct their resources properly. When countries identify high risks, they must allocate and direct their resources towards addressing the deficiencies that have been identified in the anti-money laundering and terrorist financing systems, and when they have identified low risks, they may allow the application of simplified measures in relation to some of the FATF recommendations.
International Monetary Fund (IMF) experts and methodology have been solicited to conduct the National Risk Assessment (NRA) on money laundering and terrorist financing in the Kingdom, which is a holistic methodology that aims at providing a complete picture of the risks of money laundering and terrorist financing. This methodology is based on the identification of the three main components of the assessment process, namely threats, vulnerabilities and consequences.
To view and download the content, click here