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Dr. Abu-Ghazaleh: Publishing “Anti-Money Laundering and Terrorism Financing Guide for Free on all TAG.Global’s Websites

30-Nov-2023

AMMAN - The International Arab Society of Certified Accountants (IASCA) and the Arab Society of Certified Accountants (ASCA-Jordan), published the Anti-Money Laundering and Terrorism Financing Guide, on their websites, as well as all the websites of Talal Abu-Ghazaleh Global (TAG.Global) for free.

The Guide has been distributed free of charge in line with the directives and vision of HE Dr. Talal Abu-Ghazaleh, chairman of IASCA and ASCA (Jordan), to help accountants comply with the obligations imposed on them by the laws and legislation of AML & CTF in the Arab region.

The handbook aims to guide those concerned with the application of the (AML & CTF) legislation in the Arab region such as accountants, auditors, tax and credit consultants, and those who provide corporate services.  

In this context, Dr. Abu-Ghazaleh said,“We have exerted the utmost efforts to prepare these guidelines, the first of their kind, to help accountants comply with the obligations imposed on them by the laws and legislation of AML & CTF in the Arab countries.” However, he stated that the courts should refer to the local laws and legislation along with the international regulations to decide whether an entity, subject to these laws, has committed such crimes. 

The references in these guidelines follow the broad outline of the Financial Action Task Force (FATF) guidance for a Risk-Based Approach for the accounting profession, and they fulfill the requirements of the FATF 40 recommendations on accountancy obligations regarding AML/CFT compliance requirements. 

 “These guidelines are the latest and the most advanced guidelines applied in developed countries. They include all the concepts and procedures that professional accountants should be aware of to combat money laundering and terrorism financing. The guidelines aim to ensure that accountants will not use the services they provide to support criminal activities; instead, they will employ the services they provide in facilitating the vital transactions that support the economies and preserve the wealth of nations.

These guidelines set out the accountants’ responsibilities in combating money laundering, starting from developing and maintaining a risk assessment framework, to reaching a final decision regarding how to handle high-risk clients suspected of money laundering. 
To download the Guide, please click here.