Parliament Press Release-Money Laundering and Terrorist Financing
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    Parliament Press Release-Money Laundering and Terrorist Financing

    Qanunmkavhh money laundering and terrorist financing



    Anti-Money Laundering and the Financing of Terrorism Act

    Name of the people

    Presidency
    Based on what passed the House of Representatives and approved by the President of the Republic and based on the provisions of subsection (I) of Article (61) and item (iii) of Article 73 of the Constitution.
    Issued the following law:
    No. () for the year 2015

    chapter One
    Definitions

    Article -1 - the following terms for the purposes of this Act against which the meanings indicated:
    First - Bank: The Central Bank of Iraq 0

    Secondly - Governor: Governor of the Central Bank of Iraq 0

    Thirdly - Council: The Council of the fight against money laundering and the financing of terrorism 0

    IV Office: Office of the fight against money laundering and financing of terrorism 0

    Fifth - the money: assets or property that is obtained by any means national such as currency and foreign currency financial and commercial papers and deposits and current accounts and financial investments and deeds and documents in whatever form including electronic or digital, and precious metals, precious stones and goods and all of a financial value of real estate or movable and rights related to them, and what comes from those funds from interest and dividends, whether inside or outside Iraq. And any other kind of funds determined by the Board for the purposes of this law, a statement published in the official gazette.

    VI proceeds of crime: funds generated or obtained directly or non-directly wholly or partly, from the commission of one of the original crimes.

    VII original crime: every crime in the Iraqi criminal law of crimes or misdemeanors.

    The proposed amendment:
    Eighth - the financial institution: any natural or legal person engaged in an activity or more of the following operations for the benefit of a single customer or on his behalf:


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    Last edited by Doodle Brain; 09-16-2015 at 02:55 PM.



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