Challenges and forward-looking roles of forensic accounting in combating money laundering: Evidence from the developing market

The spread of money laundering operations and their negative effects on the national economy is a global challenge. Jordan, in which overall risk was assessed to be high (National Anti-Money Laundering Terrorism Financing Committee [NAMLTFC], 2020), aims intensify efforts combat operations. This study shed light role forensic accountants combating laundering, addition highlighting potential obstacles they face performing duties. employed concurrent mixed method approach that data collection for both questionnaire interviews conducted simultaneously. analysis revealed accounting techniques contribute findings also suggest better achieve this goal, must familiar with contemporary collection, process, analysis. In addition, several limit desire work as such disproportion fees effort expended especially when litigation period extends years, loss time due non-attendance witnesses court. Given draft companies law mandates declare real beneficiaries, regulators can invest insights gained from enhance anti-money cooperation International Federation Accountants (IFAC) by considering giving auditors greater power examining related-party transactions (IAASB, n.d.) identifying beneficiaries.