Invitations to combat money laundering
Page 1 of 1
Invitations to combat money laundering
Admin Tue Jul 22, 2014 5:24 pm
7/23/2014 0:00
Because it's harmful to the national economy
BAGHDAD - Hussein al-Tamimi Tgb
Shkran Fatlawi
Balchan banking specialist confirmed the importance of the adoption of sophisticated banking systems, about the movement of capital, the local bank for any illnesses adversely affect this device is important.
Saad al-Tai said in an interview »Sabah» that the domestic financial sector is going Botaúr developmental upward through the adoption of advanced systems gradually in most of the banks that fall under the banner of the Association of private banks in Iraq.
He pointed out that the most dangerous phenomena that must be addressed through advanced systems that limit the spread of money laundering, which is a disease suffered by many of the international economics, pointing out that the advanced systems adopted in major economic blocs are working with great accuracy out with positive results keeps the flow of capital money in the channels that achieve economic viability.
And between «The phenomenon of money laundering is the process or try to hide illicit sources that have been obtaining money from the way where they are transferring funds obtained in ways illegal punishable by law and work to turn them into capital are running in the works is a suspicious or commercial projects or economic legitimate ».
He said it was a major threat to global and regional economies and local, indicating the importance of the work of private banks as well as the central bank to combat these practices, especially that the Iraqi economy is large and will see the movement of big money in the coming period as well as the presence of branches of international banks and regional and in increasing continuously in the preparation, which requires the adoption of the best technology in the fight against this phenomenon.
He said the Statistics indicate that more than 500 billion dollars were traded in the money laundering operations in the nineties of the last century and then amounted to more than 1.5 trillion dollars in the first decade of this century, which points to the extent of the amount of money the enormous obtained through the non-legitimate and try to turn them into legitimate sources.
He said the local banking sector has the human capacity capable of applying best international banking regulations, noting the need to create new efficiencies that can detect cases of money laundering, where staff can engage private and public banks from specialists in training courses under the supervision of international experts to gain access to the global competence.
Financial expert d. Majid picture occur »Sabah» about the effects of the phenomenon of money laundering, the banking operation, saying that there are issues in the banking business as possible to monitor dramatically and is working on a follow-up banking activity his image wide and not on a small scale in the sense that the intended banking activity exceed the limits of banks to companies conversion and banking companies.
He pointed out that there are large sums of money have been recently disbursed by the central bank in the process of cash sales to the dollar, indicating that in the year 2013 was sold about more than $ 12 billion in cash and through twenty-one days have been sold more than a billion dollars in cash, money worthwhile then to he said, pointing out that in order to control money laundering and smuggling must control the movement of money in Iraq, either through banks or other activities related to banking work.
He noted that this process has not achieved the desired end of which only gathered a lot of people in front of the doors of banks, indicating that the process of money laundering is the conversion of illegal money into funds and legitimate sources of financial and administrative corruption and operations illegal by trading humans and drug trafficking where you go this money to fund terrorism or for smuggling abroad is therefore necessary caution to prevent falling into this serious mistake.
http://www.alsabaah.iq/ArticleShow.aspx?ID=74966
Because it's harmful to the national economy
BAGHDAD - Hussein al-Tamimi Tgb
Shkran Fatlawi
Balchan banking specialist confirmed the importance of the adoption of sophisticated banking systems, about the movement of capital, the local bank for any illnesses adversely affect this device is important.
Saad al-Tai said in an interview »Sabah» that the domestic financial sector is going Botaúr developmental upward through the adoption of advanced systems gradually in most of the banks that fall under the banner of the Association of private banks in Iraq.
He pointed out that the most dangerous phenomena that must be addressed through advanced systems that limit the spread of money laundering, which is a disease suffered by many of the international economics, pointing out that the advanced systems adopted in major economic blocs are working with great accuracy out with positive results keeps the flow of capital money in the channels that achieve economic viability.
And between «The phenomenon of money laundering is the process or try to hide illicit sources that have been obtaining money from the way where they are transferring funds obtained in ways illegal punishable by law and work to turn them into capital are running in the works is a suspicious or commercial projects or economic legitimate ».
He said it was a major threat to global and regional economies and local, indicating the importance of the work of private banks as well as the central bank to combat these practices, especially that the Iraqi economy is large and will see the movement of big money in the coming period as well as the presence of branches of international banks and regional and in increasing continuously in the preparation, which requires the adoption of the best technology in the fight against this phenomenon.
He said the Statistics indicate that more than 500 billion dollars were traded in the money laundering operations in the nineties of the last century and then amounted to more than 1.5 trillion dollars in the first decade of this century, which points to the extent of the amount of money the enormous obtained through the non-legitimate and try to turn them into legitimate sources.
He said the local banking sector has the human capacity capable of applying best international banking regulations, noting the need to create new efficiencies that can detect cases of money laundering, where staff can engage private and public banks from specialists in training courses under the supervision of international experts to gain access to the global competence.
Financial expert d. Majid picture occur »Sabah» about the effects of the phenomenon of money laundering, the banking operation, saying that there are issues in the banking business as possible to monitor dramatically and is working on a follow-up banking activity his image wide and not on a small scale in the sense that the intended banking activity exceed the limits of banks to companies conversion and banking companies.
He pointed out that there are large sums of money have been recently disbursed by the central bank in the process of cash sales to the dollar, indicating that in the year 2013 was sold about more than $ 12 billion in cash and through twenty-one days have been sold more than a billion dollars in cash, money worthwhile then to he said, pointing out that in order to control money laundering and smuggling must control the movement of money in Iraq, either through banks or other activities related to banking work.
He noted that this process has not achieved the desired end of which only gathered a lot of people in front of the doors of banks, indicating that the process of money laundering is the conversion of illegal money into funds and legitimate sources of financial and administrative corruption and operations illegal by trading humans and drug trafficking where you go this money to fund terrorism or for smuggling abroad is therefore necessary caution to prevent falling into this serious mistake.
http://www.alsabaah.iq/ArticleShow.aspx?ID=74966
Admin- Admin
- Posts : 29357
Join date : 2012-04-30
Location : Arizona -
Similar topics» Preparing a draft law to combat money laundering
» Project to combat money laundering and financing of terrorism law
» The central bank does his office to combat money laundering
» Calls on private banks to combat money laundering in Iraq
» Jubouri calls for banks to Monitor and Combat Money Laundering
» Project to combat money laundering and financing of terrorism law
» The central bank does his office to combat money laundering
» Calls on private banks to combat money laundering in Iraq
» Jubouri calls for banks to Monitor and Combat Money Laundering
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|