Anti-money laundering legislation to recover funds smuggled 9/7
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    Anti-money laundering legislation to recover funds smuggled 9/7

    Anti-money laundering legislation to recover funds smuggled


    Baghdad/Baghdad newsletter - Abadi, the House legislation to the new anti-money laundering Act will give Iraq the power to recover funds smuggled abroad.

    Saleh said in a press statement that "public money pending endless limitations, and remains involved in embezzling wanted by law until the crop of law, there is a Committee in the Ministry of finance and in coordination with the Prime Minister to recover public money, and there is continuity in pursuing this matter."

    The Ministry of Justice is working to follow up Iraq's funds abroad, such as distressed debt and deposits, and also seeks to recover the money."

    He said that "the new anti-money laundering Act will legislate him Parliament soon, would give Iraq an international force for the recovery of funds", stressing the importance of international cooperation that Iraq is a member of the financial action group for countries of North Africa and the Middle East.

    The "money recovery needs time that smuggled funds has been washed and filtered so they need a high degree of investigation", noting "the existence of information and continuous screening to retrieve smuggled money."

    Parliament was completed on 25 August the first reading of the law against money laundering and the financing of terrorism, while his second reading postponed without setting a date.

    Finance Committee meeting held on 30 August, headed by Ahmed Chalabi, Deputy Chairman of the Committee and members discussed the draft law against money-laundering and the financing of terrorism, participants discussed hosting the Chief Prosecutor at the Supreme Judicial Council and officials of the file in the Supreme Judicial Council, the Central Bank and the national intelligence service and the Office of financial supervision to discuss draft anti-money laundering and financing of terrorism ".


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    Last edited by Doodle Brain; 09-09-2015 at 12:58 AM.



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