Introduction to Combating Money Laundry and Financing Suspicious Operations Institute of Banking Studies

Objectives :

  • Provide participants with the necessary knowledge about the concept of money laundering and financing of suspicious transactions.
  • Familiarize participants with the most important terms and concepts relating to the fight against money laundering and financing of suspicious transactions.
  • Familiarize participants with the most important differences between money laundering and the financing of suspicious transactions. 
  • Introduce participants to the importance of combating money laundering, goal and stages of money laundering. 
  • Introduce participants to the risks of the spread of laundering money on the social and economic level.
  • Display of some of the methods used in money laundering.

Contents :

  • Introduction to combat money laundering and financing of suspicious transactions.
  • Concepts and terminology.
  • The risks and penalties.
  • The difference between money-laundering and the financing of suspicious transactions.
  • Stages of money laundering.
  • The goal of combating money laundering.
  • Know Your Customer policy KYC .
  • The economic and social effects of money laundering.
  • Methods of operations linked to suspected money laundering or the financing of suspicious transactions.
  • Steps to deal with suspected cases.
  • About the list of FATF FATF .
  • Examples and practical situations. 

The Central Bank of Jordan began in 1965 to study the necessary means of setting up a team for theoretical and practical training aimed at promoting human cadres of the banking and financial sector and study its employees needs and satisfy their desires to advance their scientific and practical abilities . These efforts culminated in the creation of the Institute of Banking Studies in accordance with Article (37) Paragraph (d) of the Central Bank of Jordan Law and in accordance with the Institute,s Articles of Association No. (69) issued on 1970. The Institute   was   officially   inaugurated on   October 9, 1971 and was housed then at the Central Bank,s premises.

In the early 1990,s , the  Institute  witnessed a new stage ; the construction of the Institute,s permanent   headquarter   in  Tla,a  Al  Ali ,  a suburb of the capital  Amman . The complex was constructed on an eight dunums plot of land and comprised of administration units, academic and training activities halls, library, laboratories, cafeteria, health clinic and a multipurpose hall. Also , the Institute has two branches, one in Irbid and the other in Aqaba.  The purpose of  these  branches is to widen the distribution of academic and training activities conducted  by the Institute to cover the various regions of the Kingdom.

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