Steps in the fight against money-laundering

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Steps in the fight against money-laundering

Post  Admin on Tue Jun 12, 2018 9:07 am

12/6/2018 12:00 am

Dr. Basem Ibrahimi
Money laundering is one of the most dangerous financial crimes being taken by gangs
the organization.


It means the process of re-entering the money obtained by means of criminal offense against the law and legislation (dirty roads) to the economy again on the basis that it is clean money after being passed through a number of channels, including banks, especially in countries that
Does not restrict the transfer of money to and from its economy.


The Iraqi economy has suffered during the past years from this phenomenon, especially as it was sometimes associated with the terrorist acts that hit the joints of the country and the economy in particular. The AML which was created in accordance with this Act shall take measures that would eliminate such
Phenomenon.


The fight against money laundering and terrorist financing has become international, and international efforts have been increasing. The lists of persons and entities accused of such crimes have been issued by entities such as the United Nations (enforceable), the European Union and the Office of Foreign Assets Monitoring Whose lists are non-binding, but the non-implementation of them threatens the political and economic interests of the country that refuses to cooperate in the application of those
Menus.


Iraq has developed in recent years the measures and policies taken in the fight against money laundering and terrorism financing and is following the updates issued in the international lists to take action against individuals and entities listed on those lists.


In this context, Iraq has established a committee called the Committee for the freezing of terrorist funds in accordance with international standards and its commitment to combating the financing of terrorism and has issued several important decisions which are calculated for this committee
National.


That the important steps taken in this context will be reflected positively on the overall international relations of Iraq, especially in the economic aspect as the economy is affected greatly by the results of the measures taken and their role in achieving the conditions of confidence and stability, which are one of the most important foundations for the stage of construction and growth that Iraq aspires in the new phase.


http://www.alsabaah.iq/ArticleShow.aspx?ID=158638

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