TAG-Global and IASCA Launch the
Anti-Money Laundering and Terrorism Financing Guidelines

Amman - The International Arab Society of Certified
Accountants (IASCA) announced the issuance of the Anti-Money Laundering and
Terrorism Financing (AML & CTF) Guidelines in cooperation with TAG-Global.

The guidelines aim t guide those concerned with the
application of the (AML & CTF) legislations in the Arab region such as
accountants, auditors, tax and credit consultants, and those who provide
corporate services.  

 “We, at TAG-Global
and IASCA, have exerted the utmost efforts to prepare these guidelines, the
first of its kind, to help accountants comply with the obligations imposed on
them by the laws and legislations of AML & CTF in the Arab countries,” said
H.E Dr. Talal Abu Ghazaleh, adding
that the courts should refer to the local laws and legislations along with the
international regulations to decide whether an entity, subject to these laws,
has committed such crimes. 

The references included in these guidelines follow the
broad outline of the 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. They also
adopt the most recent and advanced guidelines applied in developed
countries. 

 “These guidelines
are the latest and the most advanced guidelines applied in the developed
countries. They include all the concepts and procedures that the professional
accountants should be aware of in order of being  able to combat money
laundering and terrorism financing. The guidelines aim at ensuring  that
accountants will not use the services they provide in supporting 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 .” Said Mr. Salem
Al-Oury, the CEO of IASCA.