Draft Anti-Money Laundering Law Published

The draft amended bill to the Money Laundering and Terrorist Financing Law for 2026 introduces substantial modifications to the legislation related to combating money laundering and terrorist financing in Jordan. The amendments include expanding oversight to cover virtual assets and adding virtual asset service providers to the list of reporting entities. They also strengthen investigative and supervisory powers, including the ability to seize, freeze, and confiscate assets linked to money laundering and terrorism offenses. The project defines criminal assets and focuses on tracking and assessing assets derived from unlawful activities. It broadens investigative tools by incorporating methods such as undercover operations and interception of communications. Additionally, it emphasizes enhancing international cooperation in asset recovery and identifying assets related to money laundering or terrorist financing. The bill also promotes transparency and oversight of non-profit organizations. It involves expanding the membership of the National Committee for Combating Money Laundering and Terrorist Financing and developing its strategies to ensure effective countermeasures against financial crimes. The Financial and Administrative Independence of the Anti-Money Laundering and Terrorist Financing Unit is ensured, granting it rights related to ownership, contracting, and access to databases. Overall, the amendments aim to enhance both legal and technical mechanisms for fighting money laundering. They impose necessary measures to monitor financial transactions carried out through digital means and expand international cooperation and legal procedures for pursuing assets linked to money laundering or terrorist financing. This reflects a significant effort to update the legal framework and activate oversight and investigative mechanisms against cross-border financial crimes.

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