Abstract
The aim of this study is to determine the impact of money laundering on: the competition in the financial and monetary markets, the stability of the investment sector in Jordan, the ability of the government to control the monetary policies in Jordan, the attraction of foreign investments to the markets in Jordan and the Jordanian dinar exchange rates. A survey of the components and sample of the study population, composed of employees of the Central Bank of Jordan and the Audit Bureau, was used. A questionnaire was developed as a tool for the study, distributed to the study sample of (35).
 The study concludes that: Money laundering has a massive effect on monetary markets, competition in the financial and monetary markets, the government’s capability to control monetary policies, the investment sector’s stability, attracting foreign investments for the marketplace, and Jordanian Dinar’s exchange rate. Depending on the results of the study, the researcher recommends Introducing laws and regulations to combat money laundering, fostering the role judicial authorities, empowering prohibiting and punishment of involved financial institutions, confiscating of funds, punishing perpetrators, and developing legal procedures that regulate banks’, financial institutions’ and companies’ activities.
  
Highlights
Money laundering is a financial crime that might affect negatively on the economic stability, especially on finance and investments leading to monetary markets (Jack Law Group, 2013); it can be said that money laundering is concealing the source, the nature, the place and the disposal of funds and assets that are acquired through illegal or criminal activities such as embezzlement, drug dealing, prostitution, corruption, and largescale criminality
The study concludes that: Money laundering has a massive effect on monetary markets, competition in the financial and monetary markets, the government’s capability to control monetary policies, the investment sector’s stability, attracting foreign investments for the marketplace, and Jordanian Dinar’s exchange rate
Arithmetic means and standard deviations are calculated to the extent of the impact of money laundering on monetary markets in Jordan consisting of
Summary
Money laundering is a financial crime that might affect negatively on the economic stability, especially on finance and investments leading to monetary markets (Jack Law Group, 2013); it can be said that money laundering is concealing the source, the nature, the place and the disposal of funds and assets that are acquired through illegal or criminal activities such as embezzlement, drug dealing, prostitution, corruption, and largescale criminality. As defined in the Dictionary of Finance and Banking (2008), is the process where the money is acquired illegally, either through stealing, drug dealing or so forth, in which it appears as if it’s from legal sources. Money laundering can be described as the process of transferring illegal money into legal money using high-ranking officials in large corporations, to transfer the funds either through personal accounts, tax evasion, prostitution or drug dealing. One of the most used methods of money laundering is via using financial organizations and companies, which act as a front for receiving illicit money (https://twitter.com/ WorldCompliance/2013)
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
