Parliament Law-FULL TEXT AML and the Financing of Terrorism Act
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
Law Anti-money laundering and terrorist financing
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. Secondly - Governor: Governor of the Central Bank of Iraq. Thirdly - Council: Council to combat money laundering and terrorist financing. IV Office: Office of the anti-money laundering and terrorist financing. 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. 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: A - receipt of deposit and other money payable from the public such as banking own. B -alagherad. C-Leasing. (D) money or value transfer services Or (e) the issuance and payment methods Kptaqat debit and credit card management, bills of exchange and instruments traveler's checks and electronic funds and others. And - the financial commitments and guarantees. G - trading or trafficking in the following: (1) money market instruments such as checks, bills and certificates of deposit (2) financial derivatives. (3) foreign exchange. (4) Currency exchange instruments, interest rates, financial indicators (5) securities negotiable (6) futures contracts for commodities. H - Participation in the issuance of securities and the provision of financial services related to these versions. I - individual or collective conservative management. J - Save cash or securities are flowing on behalf of a third party or its management. K - investment funds or money or managed or operated on behalf of third parties. For - the issuance of life insurance and other types of insurance related to investment in locked or broker for insurance contract. M - switching money or currencies. N - any activity or another process determined by a decision of the Council of Ministers, on the proposal of the Council and published in the Official Gazette IX - Business and DNFBPs include the following: A. Dalalan real estate, when they started transactions relating to the sale or purchase of real estate, or both, for the benefit of customers. B - goldsmiths and precious metals or gems traders, when involved in a cash transaction valued specify a statement issued by the President of the Council and published in the Official Gazette. (C) lawyers or accountants, whether they practice their profession freely or were partners or employees in specialized companies, when preparing or carrying out or carrying out transactions on behalf of their clients in respect of any of the following activities: (1) buying or selling real estate. (2) management client funds or securities or other assets. (3) bank accounts or savings accounts or securities accounts management. (4) the organization of contributions to the creation, operation or management companies. (5) the establishment, operation or management of legal persons or legal arrangements. (6) the sale or purchase of companies. D - providers services companies, trusts and other companies, when preparing or carrying out transactions on behalf of the client on a commercial basis, these services include: (1) act as agent for the founder of the legal persons (2) work or arranging for another person to act as commissioner or director of a partner in the partnership or in a similar position in the legal person. (3) provision of registered office or place of business, correspondence or mail address, or administrative address for a company or any legal person or legal arrangement. (4) act or arranging for another person to act as trustee of a trust fund or doing similar work for the benefit of legal arrangement. (5) act or arranging for another person to act as a contributor to my name. (6) Any other activity or profession issues added, a decision of the Council of Ministers, on the proposal of the Council, and published in the Official Gazette. X. Financing of Terrorism: any act committed by any person by any means, directly or indirectly, willfully, provide or collect funds or attempted to do so, from a legitimate source, or illegal, with a view to use, with the knowledge that these funds will be used, in whole or in partly in the implementation of an act of terrorism, or of a terrorist or terrorist organization, whether the crime took place or did not fall apart from the State in which the act is located, or where there are terrorist or terrorist organization. XI terrorist act includes: A - every criminal act in this description in Iraqi law. (B) any act which constitutes a crime according to "the definitions set forth in preventing the illegal seizure of aircraft of the Convention (1970) and the Convention for the Suppression of crimes against the Safety of Civil Aviation for the year (1971) and the Convention on the Prevention and Punishment of Crimes against Internationally Protected Persons, for the year (1973). and punish crimes against Internationally Protected Persons, for the year (1974) and the Convention for the Suppression of crimes against the Safety of Civil Aviation for the year (1975). International Convention against the Taking of Hostages of the year (1979) and the Convention on the Physical Protection of Nuclear Material for the year (1980) and the Protocol for the Suppression of Unlawful Acts of Violence at Airports Serving International Civil Aviation, supplementary to the Convention for the Suppression of Unlawful Acts against the Safety of Civil Aviation for the year (1988) and the Convention for the Suppression of Unlawful Acts against the Safety of Maritime Navigation of the year (1988) and the Protocol for the Suppression of Unlawful Acts against Almnchaouat Fixed safety on the continental shelf of the year (1988). International Convention for the Suppression of Terrorist Bombings of the year (1997) or any other agreement or a related protocol of financing terrorism be a party to the Republic of Iraq "where. (C) any act intended to kill civilians or compromising the integrity Bantm or any other person not a party activist in hostilities in situations of armed conflict, when the purpose of such an act, a group of people to intimidate or compel a government or an international organization to do a particular act or omission all done. XII terrorist: every natural person has committed terrorist acts, as an actor "of the crime, or participated in, or instigated the commission if it does not result in agitation effect, or complicity to commit, or agreed to commit, by any means, either directly or indirectly. or is attempted. XIII terrorist organization: it is two or more people to commit terrorist acts agreement, by any means, directly or indirectly, whether certain actions or non-specific or on processed her acts or facilitating the commission when the deal was structured, "though in principle configured , continuing "even for a short period of time. Whether the crime occurred or did not occur. Or any group of terrorists do any of the following acts: (A) commit or attempt to commit terrorist acts, intentionally, by any means, directly or indirectly. B complicity in carrying out terrorist acts. C - the organization of terrorist acts, or directing others to commit. (D) contribute to the perpetration of terrorist acts, with a group of persons acting with a common purpose, while contributing to be deliberate, and in order to strengthen the terrorist act with the knowledge or intention of the group to commit a terrorist act. XIV real beneficiary: the natural person who owns or exercises final control directly or indirectly on the client. Or natural person who made the transaction on his behalf as well as the person who exercises effective control over the final legal person or legal arrangement. XV. Reservation: the temporary ban on the transfer of funds or proceeds of crime or converted or replaced or disposed of on the basis of a decision issued by a competent court or a competent authority for a period of validity of the decision. XVI freeze: ban the transfer of money, equipment or other media, transfer or disposition or movement when they are owned by individuals or specific entities or controlled by, based on a decision issued by a competent court or administrative body competent or committee to freeze terrorist funds under the mechanism of the freeze based on "the actions taken by the United Nations Security Council or in accordance with the decisions and the duration of the decision. XVII. Regulators: the competent authority to license or specific financial institutions, business and the professions of non-financial, or supervise and make sure of its commitment to the requirements necessitated by the fight against money laundering and terrorist financing leave, including the Ministry of Commerce and Ministry of Industry Iraqi Central Bank and the Securities Commission and the Office of Insurance and any party another jurisdiction it shall issue a decision as a supervisory decision of the Council of Ministers on the proposal of the Council and published in the Official Gazette. XVIII suspicious process: any process is believed to be partially or completely include obtained from a predicate offense funds. Nineteenth - legal arrangements: the relationship arising under a contract between two or more parties, including not result in legal personality Kalsnadik credit or other similar arrangements for its emergence. Ashron- picture Bank: Bank registered or licensed in the country or region without having a material which, not belonging to the regulated effective banking supervision financial group. XI and Ashron- financial group: a group of companies or subsidiaries or any legal person exercises control over its branches and subsidiaries. Second and Ashron- customer: anyone who is prescribed or in any of the following acts with a financial institution or business and DNFBPs: A. Order, open, or execute a transaction or business relationship or account for him. (B) to participate in the signing of the transaction or business relationship or account. (C) allocation or transfer of account or rights or obligations under the transaction. (D) authorize the treatment or control of the business relationship, or at the expense of. Third and Ashron- client viewer: a client who no relation to the work relationship is expected to continue with it. Fourth and Ashron- working relationship: The relationship that develops between the financial institution or business and DNFBPs and its agent, which related to the activities and services provided by him when the institution predicted that the relationship extends for a period of time. Fifth and Ashron- financial negotiable instruments: monetary instruments in the form of a document to the holder such as checks and tourist negotiable instruments including checks, promissory notes and payment orders that are bearer or demonstration him without restrictions or issued to beneficiaries my photos or in any other form is transmitted with the use of the holder.
Chapter II The offense of money laundering
Article -2 - is guilty of "the crime of money laundering, each of the one of the following acts: I. transfer of funds, or moved, or replaced from one person knows or should know of it the proceeds of crime. For the purpose of concealing or disguising the illicit origin or help the perpetrator or the perpetrator of the original crime or contributed to the commission or the commission of the predicate offense to evade the responsibility for them. Second hide money or disguising the truth, source, location or condition, disposition or movement, or ownership of or rights relating thereto, from a person knows or should know of it the proceeds of crime. III acquisition of money, possession or use, of a person knows or should know of the time they received the proceeds of crime.
Article - 3. Do not stop convict the accused for the crime of money laundering on the verdict from the original crime that resulted in these funds.
Article -4 - does not prevent the judge the defendant for any "of predicate offenses, of self-rule for the crime of money that resulted from that crime Wash. And apply the provisions of the multiplicity of crimes and punishment prescribed in the Penal Code.
Chapter III Council anti-money laundering and terrorist financing
Article - 5 - I. found in the Bank's Board called (anti-money laundering and terrorist financing Council) of: -mahafez A president " (B) Office of the Director in the fight against money laundering member "and the deputies," the president (C) a representative of the authorities of not less than the following function of the degree of general manager of the members of the (1) Ministry of Interior. (2) Ministry of Finance. (3) Ministry of Justice. (4) Ministry of Commerce. (5) Ministry of Foreign Affairs. (6) General Secretariat of the Council of Ministers. (7) The National Intelligence Service. (8) Home security device. (9) of the Securities Commission. (10) anti-terrorism device.
D - at least to judge Rate for Class III to be nominated by the Supreme Judicial Council. Second: The Vice President replaces the president during his absence III to host the President of the Council sees the need to engage in his opinion without having the right to vote. IV-called conservative rapporteur "of the Council, The Report of Council meetings dates and agenda, and the codification of a lecture, and edit Mkhatabath, and communicated to the relevant authorities, and follow up the implementation of Council decisions.
Article 6 - - Chairman of the Board shall issue an internal system in which the functioning of the Board shall determine and meetings and completeness of redress and any other things 0
Article - 7 - The Board shall have the following functions: - I. development of policies and programs to combat money laundering and financing of terrorism and the financing of proliferation of weapons of mass destruction, and develop and follow up their implementation. Second: To propose bills, regulations and instructions related to combating money laundering and financing of terrorism 0 III development tools and standards for the discovery of money laundering and terrorism financing methods and follow-up and uncles 0 IV issuing regulations include limits cash and negotiable instruments for the purpose of monitoring the coverage of money laundering and the financing of terrorism and published in the Official Gazette. V. drawing and the development of appropriate training programs for staff involved in the fight against money laundering and financing of terrorism 0 VI identify and assess the risk of money laundering and terrorist financing in the Republic of Iraq and updated continuously. VII facilitate the exchange of information and coordination between the competent authorities. Examination of the reports submitted by the Bureau on the anti-money laundering activities in the Republic of Iraq. IX follow global developments in the field of combating money laundering and financing of terrorism and propose the necessary measures in that. X. reporting and providing consultancy to the government in respect of money laundering and financing of terrorism. Remember XI. Statistics provided by the management of the office and other stakeholders in Shan information on money laundering and terrorist financing in the Republic of Iraq. XII take effective counter-measures commensurate with the size of the risk in the face of countries that do not apply international standards to combat money laundering and terrorist financing. XIII competent authorities follow up the implementation of policies to combat money laundering and terrorist financing. XIV to submit an annual report to the Council of Ministers includes an offer "for the activities of the Council and its efforts of national, regional and international developments in the field of combating money laundering and terrorism financing, and proposals concerning the activation of control systems. XV follow up the implementation of sanctions imposed because of non-compliance with Security Council resolutions of the United Nations, regarding the financing of terrorism and repression and disable the proliferation of weapons of mass destruction. Sixteenth - submit proposals to the Council of Ministers on the subject of financial activities or acts of non-financial professions and specific obligations set forth in this law. Seventeenth - a proposal to set relevant regulators for the purposes of applying the provisions of this law.
Chapter IV The fight against money laundering and terrorism financing Office
Article -8 - first - based at the bank's office called the (anti-money laundering and terrorism financing office) the level of the Department of General enjoys legal personality and financial and administrative independence, and is represented by the Director General of the Office or his nominee. Second desk officer manages entitled director general holds a university degree and at least in the initial experienced and competent service he has not less than (15) fifteen years, and shall be appointed in accordance "with the law. III employees shall be assisted by the Director-General entitled assistant general manager.
Article 9 - - the Bureau, centralized in the state, the following tasks: I. A - receive notifications or information or obtained or investigate operations that are suspected to include the proceeds of the original crime or money laundering or terrorist financing of destinations reporting.
B - notifications or information analysis, and the Office for the performance of his duties to get views from reporting any additional information prepared useful for the analysis, within the period determined by, and has to get on it than any other. (C) to suspend the implementation of financial operation or operations for a period not exceeding seven (7) business days, in the case of the fear of smuggling proceeds, or damage the progress of the analysis. (D) the assignment of notifications which are based on reasonable grounds for suspicion in the process of money laundering or terrorist financing or predicate offenses to the Presidency of the public prosecutor to take legal action in the matter, and the poetry of the relevant authorities to do so.
Second to prepare and submit an annual report to the Council on the office and activities activities related to money laundering and financing of terrorism, and statistics on reporting and trends in the fight against money laundering and the financing of terrorism and its mechanisms, methods and its reports are published report, as adopted by the Council. Third exchange of relevant anti-money laundering and the financing of terrorism with the relevant authorities in the state departments of information, and the public sector, and coordination with them in this regard. IV participate in the representation of the Republic of Iraq in international organizations and conferences related to combating money laundering and terrorist financing. V. the establishment of a database of what is available to the Office of Information adopt as a national center for the collection, analysis and uncles that information regarding potential occurrence of money laundering and the financing of terrorism and the development of means to facilitate the task of the judicial authorities and other competent authorities to apply the provisions of this law. VI collection and analysis of comprehensive statistics on matters falling within the functions of the office. VII preparation of training courses for the staff concerned to inform them of developments in the area of the crime of money laundering and terrorist financing. VIII poems regulators or the competent authorities other breach of any financial institution or business careers and specific non-financial provisions of the present law. IX providing technical advice regarding the accession to the conventions and treaties related to money laundering and terrorist financing.
Chapter V The integration of the fifth, sixth and seventh chapters in the name of ((the obligations of financial institutions, business and DNFBPs))
Article -10 - I. taking financial institutions, business owners and DNFBPs following due diligence measures towards the customers: A - identify and verify the customer's identity and the real beneficiary through the documents, data or information from a reliable and independent sources. B - the identification of any person acting on behalf of the client and verification, and to make sure that this person has the authority to act in this capacity. (C) understand the purpose and nature of the employment relationship, and may request additional information in this regard. D - to identify the ownership and control structure for the people moral and legal arrangements. E - continuous follow-up in all matters relating to the employment relationship and examine any transactions taking place to ensure consistency with what is available for the client and the activities of commercial information and pattern of risk, and sources of funds when necessary.
Second due diligence measures implemented in the following cases: (A) before and during opening an account or establish a working relationship with the client. (B) a process for a client opposed worth more than the amount determined by the President of the Council issued a statement to that effect and shall be published in the Official Gazette, whether it be a single operation or several operations appear to be linked. And if the value of the operation is not known at the time implementation, must make sure that the client's identity as soon as is practical to determine the amount or when arriving limit. (C) an electronic transfer in favor of an occasional customer Bml worth more than the amount determined by the President of the Council issued a statement to that effect and shall be published in the Official Gazette. D - suspected in the commission of money laundering or terrorist financing. E. doubt on the validity or the accuracy or adequacy of the tariff data that has been obtained in advance "of the client's identity. III financial institutions and financial business and professions is specific to postpone the verification of the identity of the customer or the beneficial owner until after the establishment of the working relationship, as part of what you draw her regulators. IV Governor shall issue directives rules of due diligence to customers of financial institutions. Fifth - if not possible on any of the financial institutions, business and the professions designated non-financial obligation to care measures due to customers is not permissible to open an account or start a relationship work or execution of a transaction or any operations, and should end the business relationship if the list and inform the Office in the client would. Sixth - financial institutions, business owners and DNFBPs apply CDD measures to existing customers on the basis of materiality and risk at appropriate times, taking into account the validity and adequacy of the data obtained previously.
Article - 11 - the financial institution and business owners and professionals designated non-financial records and documents and the following documents maintained for a period of five (5) years from the date of termination of the relationship with the client or the date of the closure of the account or execute a transaction for a client viewer, whichever is longer, and ensure their accessibility to the competent authorities as soon as possible.
First - copies of all records that are obtained through the process of due diligence in verifying transactions .pma the function on the identities of the actual beneficiaries of accounting clients, files and correspondence work documents. Secondly - All domestic and international transactions records either already implemented or that there was an attempt to implement them. That those records be detailed to the extent permitted reenact steps each transaction separately. Thirdly - copies of the notifications sent to the office and related, up to the expiration of five (5) years from the date of submission of the report or Baht date of the judgment in a lawsuit related thereto, and exceeded that period. Fourthly - records relating to risk assessment, or any of a planned scheduled, or updated information.
Article - 12 - is committed to financial institutions and business owners and DNFBPs, including the following I. preparation and implementation of programs to prevent money laundering and terrorist financing include: A - an assessment of the risks of money laundering and financing of terrorism that are susceptible to it, including the identification and evaluation and understanding of these risks and take effective measures to reduce them and provide this evaluation regulators. B - the development of policies, procedures and internal controls Ttabiq obligations imposed in the field of combating money laundering and terrorism financing, leading to risk reduction that have been evaluated. C - the development and application of appropriate integrity when selecting staff standards. D - continuous training of officials and employees in order to ensure their ability to raise understanding of the risks of money laundering and terrorism financing and to identify the processes and behaviors unusual or suspicious and how to deal with the application of the measures to be followed effectively. E - the independent audit for the selection of the effectiveness of the policies and procedures and the extent of their application. Second: not to open an anonymous account or fictitious names or keep them. III including adherence to respond to it of the names is prohibited to deal with people, whether they are natural or moral and decisions issued against them by local authorities or international related to money laundering and terrorist financing. IV non-disclosure to the customer or the beneficiary or any other person is not competent authorities to apply the provisions of this law for legal action to be taken in respect of transactions or suspicious financial operations of money laundering, financing of terrorism. Fifthly a- immediately inform the Office of any operation suspected of involving money laundering, financing of terrorism, whether this process has conducted or not and according to the report prepared by the Office for this purpose model. B - Excluded from the provision of paragraph (a) of this item, lawyers and other members of the legal and accounting professions independent if their access to information relating to such treatment in a situation where the subject of professional secrecy. VI - to provide the Bureau with information and documents required by, and quickly. SUBMISSION all records to the courts and the competent authorities upon request. VIII not to deal with sham banks, or enter into relationships with them, or work with it or correspondent banking relationships with institutions sender it allow the use of accounts of shell banks. IX not to deal with any financial institution provides services to financial institutions globally banned.
Article -13- First - a - obligations on financial institutions to apply under the provisions of this Act and the regulations and instructions and internal systems and data issued according to the branches of institutions that operate outside the Republic of Iraq and its subsidiaries, which owns a majority stake in, if those provisions are not inconsistent with the applicable legislation in the States concerned. B - financial institutions to apply these commitments to the financial group level, including the policy and procedures for the exchange of information in the financial group. Second is committed to financial institutions that have branches or subsidiary companies in which a majority stake in the countries where laws prohibit the application of the provisions of this law, notify the supervisory authority to do so.
Article - 14 - introduces financial institutions in the formation of a special administrator in the fight against money laundering and financing of terrorism shall monitor the implementation of the provisions of this law and regulations issued thereunder.
Chapter VI Commission terrorists freeze funds
Article - 15 - constitute the General Secretariat of the Council of Ministers committee called (Commission to freeze terrorist funds) holds the freezing of terrorists or other assets of persons designated by the Commission of the United Nations sanctions and established under Security Council resolutions funds if they operate under Chapter VII of the UN Charter. Or who have been classified at the national level, or at the request of another country based on "the decisions of the Security Council:
I. deputy governor of the Iraqi Central Bank president " Second in the fight against money laundering and the financing of the Office of the Director of terror deputies, "the president Third-representative of the following parties career title at least for a year or manager Dean for Askaran A - Ministry of Finance. (B) the Ministry of Interior. (C) Ministry of Foreign Affairs. D - the Ministry of Justice. (E) the Ministry of Commerce. And - the Ministry of Communications. G - Ministry of Science and Technology. H - Integrity Commission. K - anti-terrorism device. For - the National Intelligence Service.
Article - 16 - The Committee shall as follows: I. uncles frozen their money names of the persons when published in the official website of the sanctions committee of the Security Council, the competent authorities without delay for the purpose of taking the necessary to freeze the funds or other assets of persons designated entities named or funds of persons and entities acting on their behalf or for their own or at the direction of the procedures and ensures that the funds and other assets derived or generated from property owned or controlled directly or indirectly by such persons or entities associated with them, and for the Commission to freeze funds and assets of the branches and spouses of any of the persons nominated if found warranted. Organization of the local list, the names of persons terrorists and terrorist organizations, who meet the criteria for the freeze. Based on the information provided by the competent authorities. III receive incoming requests to the Ministry of Foreign Affairs of foreign countries regarding the freezing of funds and other assets of persons residing in the Republic of Iraq, and check the availability of freeze standards and issue its decision accordingly.
Article - 17 - I. objection to the listing contained in the consolidated list of the sanctions committee to the competent authority in the Security Council or to the Commission's requests progress. Second progress objection to the listing in the local or international freeze lists of stakeholders to the Committee for consideration requests, and it has to keep the name or lift it or modify it or modify the scope of the freeze. The decision may be appealed in accordance with "the law.
Article - 18 - published lists of the freeze in the Official Gazette.
Article - 19 - financial institutions, business and DNFBPs committed to any entity shall freeze the funds and other assets freeze contained decisions issued by the Commission or the amount of them. And to inform the Commission immediately available, including their information in this regard.
Article - 20 - I. Any interested party may submit a written request to the Commission for a permit to act fully frozen funds or part of them for the following reasons: (A) the payment of necessary expenses of the person his money frozen or supported financially by any individual, including payments for foodstuffs, rent allowance, mortgage, medicines and medical treatment, taxes, insurance premiums and fees for public services. B - the payment of fees, and the payment of expenses of the management, conservation and maintenance. C - on humanitarian grounds to the family of the person frozen his money.
Article - 21 - on the financial institutions and business owners and non-financial professions or any other person in possession of the money that a decision was made to freezing under clause (i ") of this Article shall not dispose of them and to inform the party that put the freeze and the Bureau so.
Article - 22 - regulating mechanism receipt and distribution of the Security Council menus and procedures for delisting and correct name and deal with humanitarian cases and all related rules and regulations of the freeze under the consolidated list received from the Sanctions Committee in the Security Council, the local menus prepared by the Commission at the national level or international lists prepared based on the requests of other countries, and the functioning of the Commission, and meetings, system of the Council of Ministers.
Chapter VII Reserve money
Article - 23 - I. investigating judge and the Court at the request of the public prosecutor or purses or office, put money booking on the crime of money laundering or terrorist financing. Shall not preclude the booking of the competent judicial authority placed directly where appropriate if it does not submit a request to do so. Second booking may request, before the submission of the complaint, news or when they are submitted or in any stage of the criminal proceedings, unless it acquires judgment in the case, the degree of bits. III subject to reserve funds and the proceeds and instrumentalities used or intended for use in the commission of the crime of money laundering or terrorist financing offense or predicate offenses, or property of any equation in terms of value. Whether was in the possession of the accused at his disposal, or moved to the acquisition or disposal of a third party.
Article - 24. I. booking if put before the submission of the complaint, for the party that requested, to offer her complaint against the reserved his money, during the three (3) months from the date of booking decision. Second: the defendant reserved his money, and for those who booked the money in his hands, and anyone who claims to money reserved maturity, to object to the seizure decision by the judicial authority that issued it, through eight (8) days, from the date of notification, or his knowledge, booking decision. III if it did not provide the requested booking her complaint on the defendant within the period specified in paragraph (First ") of this Article, the decision shall be canceled booking, and still all the legal consequences it caused. IV if the complaint within the period specified in paragraph (First ") of this Article, the judicial Vllsulth that put her hand on the criminal case, to decide, either to keep the booking, modify, or canceled, according to its discretion, from the facts of the case, and which have filed their objections to the decision of booking.
Article - 25 - I. booking this is in accordance with the provisions of this chapter, booked up, and apply to his situation and challenge it, and the management of funds reserved under which, and the prosecution entitlement, the provisions of Code of Civil Procedure, are not in conflict with the provisions of this law. Second: If the deadline for the criminal case, for any legal reason, before the verdict, booking this remains valid. The administrative body concerned with the establishment of a civil action rights and the damage contained in the criminal case, during the thirty (30) days "from the date of expiry of informing the criminal case, and other than that, canceled booking decision, and returned the money to the beneficiaries reserved. Third: If the verdict finding the accused guilty, it remains to booking his money and turn into an executive reservation, when the referee is gaining degree bits. IV is a judgment of acquittal or a lack of responsibility, release or dismiss the complaint, in the case of the acquisition of the degree of the bits cancel the decision of the booking, and return the money reserved to the defendant, if it is provided for in the decision of the referee.
Chapter VIII Regulatory functions
Article - 26 - First - holds the regulators, in addition to the functions set forth in other laws as follows: A - the development of inspection procedures and standards and follow-up commitment to financial institutions, business and the professions designated non-financial commitments to combat money laundering and the financing of terrorism in accordance with law. B - the use of its powers established according to law in cases of breach of financial institutions, business and non-financial professions specified in the implementation of their obligations. C - cooperate and exchange information with the competent authorities apply the provisions of this law and the foreign counterpart agencies involved in combating money laundering and terrorist financing. D - ensure the implementation of the branches of financial institutions outside the Republic of Iraq and its subsidiaries, which owns a majority stake in the procedures set forth in this Law and the regulations, instructions and data, controls and orders issued thereunder, to the extent permitted by the legislation states that these branches operate or companies. E - Check the commitment of financial institutions and business owners and non-financial professions that are subject to the supervision or control of the obligations established under this law. The Company may also use the regulatory powers for the sake of it. And - immediately inform the Office for any information about the operations suspected of being linked to money laundering or terrorist financing or predicate offenses. (G) the development of efficient and appropriate expertise and integrity of the members of the Board of Directors and members of the executive management or supervisory directors or financial institutions in standards H - to determine the circumstances in which financial institutions, business and DNFBPs may be deferred to verify the identity of the customer or the beneficial owner until after the establishment of the employment relationship. - Establish the necessary conditions to own or manage or participate directly in the creation, management or operation of a financial institution or designated non-financial professions. J - give instructions to help financial institutions and the work of non-financial professions and specific implementation of the commitments set forth in this law. Second President of the Supreme regulatory hand, issuing instructions or orders or regulations, to facilitate the implementation of the tasks set forth in this law.
Chapter IX International cooperation
Article - 27 - is a crime of money laundering and financing of terrorism offenses for which letters rogatory may be, legal assistance and coordination, cooperation and extradition in accordance with "the provisions of conventions to which the Republic of Iraq is a party" in them.
Article - 28 - does not implement extradition request or request for legal assistance, based on the provisions of this Act, unless the requesting State laws and the laws of the Republic of Iraq, punish crime subject of the request or similar offense. The dual criminality is met, regardless of whether the laws of the State of the requesting crime included in the category of crimes themselves or used in the naming of the crime with the term used in the Iraqi law, provided that the act of crime subject of the request under the criminal laws of the requesting State.
Article - 29 - first - for the office to exchange automatically the information or upon request, with any foreign unit counterpart, perform similar functions of the functions of the office, and subject to the same obligations for confidentiality, regardless of the nature of the foreign unit, taking into account the principle of reciprocity and the provisions of international conventions or bilateral. Second may not use the information set forth in item (i ") of this Article only for the purposes of anti-predicate offenses, money laundering and the financing of terrorism, and may not be disclosed to any other party without the consent of the provider. III Office of the exchange of information through a local authority or a foreign one or more units is with his counterpart, which can not provide the information directly.
Article - 30. competent judicial authorities at the request of a judicial point of another state linked with the Convention of the Republic of Iraq or the condition of reciprocity, may decide to keep track of or book or set of funds and proceeds and revenues and media and instrumentalities used or intended for use in the implementation of the crime of money laundering or predicate offense the resulting crime or financing of terrorism or the corresponding value is not inconsistent with the Iraqi law. Without prejudice to the rights of bona fide third parties.
Article - 31 - The competent Iraqi authorities to implement the penal provisions without appeal issued by the competent foreign judicial authorities relating to the confiscation of the money earned from money laundering and financing of terrorism offenses and proceeds according to the rules and procedures contained in multilateral or bilateral agreements to which Iraq is a party 0
Article - 32. may conclude bilateral or multilateral agreements governing how to dispose of the proceeds of the convicted money confiscated in crimes of money laundering and financing of terrorism, Iraqi or foreign judicial bodies include the distribution of funds between the outcome of those Parties to the Convention in accordance with the rules and provisions.
Article - 33 - all his knowledge of contact requests legal assistance stipulated in this law to maintain the confidentiality of applications is required. And it may not be disclosed to any other party without the consent of the party that provided the information.
Chapter X Transfer money and negotiable instruments across the border
Article - 34 - I. needed every individual entering Iraq or leaving declare upon request of the representative of the General Administration of Customs of what the magnitude of the funds, currencies, financial instruments negotiable bearer or transferred to inside or outside Iraq through a person or a service or freight service or by any other means, including the permit the value of those currencies or tools. Second: the General Authority for Customs request additional information from the source person for money or currency or financial instruments negotiable bearer and intended use. III forwarded the information set forth in items (i ') and (II ") of this Article, including So a replica model of the permit to the office.
Article - 35. I. General Authority for Customs seizure of the money has expired or currency and negotiable instruments to the holder in the event of failure to declare them or give any untrue information in that or in case there is sufficient evidence to suspect that it obtained from a predicate offense, or a money laundering offense or the crime of financing terrorism or prepared for it. Second Office issued a recommendation to raise Reservations Reserve set forth in item (i ") of this article or refer them to the judiciary during the seven (7) days from the date of notification of the decision.
Chapter ten atheist Sanctions
Article - 36 - shall be punished by imprisonment for a period not exceeding (15) years and a fine of not less than the value of money subject of the crime and not more than five times the person who commits the crime of money laundering.
Article - 37 - shall be punished by life imprisonment anyone who commits the crime of terrorist financing.
Article - 38 - I. must be judged to confiscate the money subject of the crime set forth in this law, and its proceeds or things used in the commission of, or that were intended for use therein or equivalent in value in the case could not be tuned or execution, whether it be in the possession of the accused or person Other, without prejudice to the rights of bona fide third parties. Second proceeds of crime, which are mixed with property acquired from the confiscation set forth in item subject to legitimate sources (first ") of this article in the assessed value of the proceeds and fruit. III does not preclude the expiration of the criminal case without judging the confiscation of funds derived from money laundering or terrorist financing. IV void every contract, agreement or any other legal instrument, aware of the parties or one of them, or they had reason to believe that the purpose of which is to prevent the confiscation of instrumentalities or proceeds or the proceeds of crime, money-laundering or the financing of terrorism with no prejudice to the rights bona fide third parties.
Article - 39 - I. punish the financial institution a fine of not less than (25 million) twenty five million dinars and not more than (250 million) two hundred and fifty million dinars in one of the following two cases: (A) lack of record-keeping and documents for the registration of Matjrah of domestic and international financial operations include sufficient data to identify these processes and keep them for a period stipulated in this Law 0 B - open an account or accept deposits or accepting money or deposits unknown source or the names of false or fictitious 0 Second punishable by imprisonment for a term not exceeding three (3) years and a fine of not less than (15 million) fifteen million dinars and not more than (50000000) fifty million dinars or either of: - A - declined to provide the reporting of suspicious transactions to the office. Or gave incorrect information intentionally. B - articulated to the customer or beneficiary or non authorities and competent authorities apply the provisions of this law for any action by the reporting procedures, investigation or examination to be taken in respect of financial transactions suspected of involving money laundering or terrorist financing or related data 0
Article - 40 - is punishable by imprisonment and a fine of not more than (100 million) a hundred million dinars or either both breached the heads of the boards of directors of financial institutions, or one of its members or their owners or their directors or employees in bad faith or negligently particle with any of the obligations set forth in this Law 0
Article - 41 - shall be punished by imprisonment for a term not exceeding one year from all declined to provide the information to the office after his warning to be presented during the seven (7) days.
Article - 42 - shall be punished by imprisonment for a term not less than three (3) years and a fine of not less than (10000000) ten million dinars and not more than (500 million) five hundred million dinars or either all of the established banks "figurehead" in the Republic of Iraq, is trying in the rule of initiation.
Article - 43 - shall be punished by imprisonment for a term not exceeding 2 years and a fine of not less than the money value of not more than three (3) times higher every person did not say when he entered the Republic of Iraq or check at the request of the representative of the General Administration of Customs of what the magnitude of the funds or currencies, financial instruments or negotiable bearer or transferred to within the Republic of Iraq or abroad through a person or a service or a shipping service or in any other way, or gave false information.
Article - 44 - is punishable by imprisonment and a fine of not less than (1) million and not more than (25) twenty five million dinars, or either every person who violates the provisions of this law of non-material (37) and (38) and (41) and (42) and (43).
Article - 45 - regulators take the following in case of violation of the financial institution or business and DNFBPs, the provisions of this Act or the regulations, instructions or data or controls or orders issued thereunder and without prejudice to criminal penalties: I. issue an order to stop the activity that leads to the violation. Second: the withdrawal of a license to work in accordance with law. III and be alert notifies the offense should be the removal of the violation within an appropriate period to be determined for it. IV prevent people from working in the relevant sector for a period determined by the regulator. V. restrict the validity of the request presidents or replaced. VI meet the financial amount not less than (250,000) two hundred and fifty thousand dinars and not more than (5000000) five million dinars for each violation.
Article - 46. I. Without prejudice to the criminal responsibility of a natural person stipulated in this law, moral person asking for the crimes stipulated in this law committed by representatives or directors have or agents to their account and his name and punished by a fine and forfeiture for the offense in accordance "with the law. Second moral person shall be jointly liable for the payment governs the financial penalties and compensation if the crime was committed by one of his employees and his name and his favor 0
Article - 47 - exempt from punishment stipulated in this Law, each of the immediately conveyed any competent authority of the existence of a criminal conspiracy to commit the crime of money laundering and the financing of terrorism and its participants before the crime occurred and that the competent authorities to search and investigate those offenders. The court exemption from punishment or mitigated if the communication received after the crime, provided that facilitates the arrest of the perpetrators and the seizure of the place of the crime.
Article - 48 - do not ask criminally or Anillattiya "all of the good faith reporting of any suspicious transactions subject to the provisions of this Act or to provide information or data, and if it proved to be incorrect.
Chapter XII General and Final Provisions
Article - 49 - the provisions of this Law shall apply to the funds committed in the Republic of Iraq laundering offenses, and that was the predicate offenses that resulted in those funds and the reality outside the Republic of Iraq, a condition that is punishable "by the law of that State and the laws of the Republic of Iraq.
Article - 50. may not be the assignment desk officer on trial in the crime committed course of their official job or because of them without permission from the governor.
Article - 51 - may not be the establishment of any bank in the Republic of Iraq if he has no physical existence and if it was not a follower of the group subject to a financial organization for effective supervision of the competent regulatory authorities.
Article -52 - confidentiality provisions set forth does not shift in any law without the application of the provisions of this law.
Article - 53 - First - No employee of the Council may or office disclosure of information that seen it or knows by virtue of his job, both seen by or aware of them, directly or indirectly, nor may disclose such information in any way except for the purposes of this law, and continues This urban until after the termination of his service. Second apply the provision of item (i ") of this article on the people who receive the information, whether directly or indirectly, by virtue of their contact with the council or office.
Article - 54 - in the form of the Supreme Judicial Council Criminal Court jurisdiction in money laundering cases, and where appropriate, may be the formation of other appellate courts in the district centers a statement issued by the President of the Supreme Judicial Council, published in the Official Gazette.
Article - 55 - repealed the Coalition Provisional Authority Order (now defunct) No. (93) of 2004 (AMLA) 0
Article - 56 - I. may issue regulations to facilitate the implementation of the provisions of this law Second for the governor to issue instructions and internal systems to facilitate the implementation of the provisions of this law.
Article - 57 - This law shall be the date of its publication in the Official Gazette.
Reasons For the purpose of reducing money laundering and the financing of terrorism, which has become aggravated in the present era to a large extent and the acceleration of technological development in the banking sector funds work, which allowed diversity in the methods of financial fraud and what caused it from the adverse impacts on the economy and society, and the face of criminal activities and combat tactics emerging and reduction and the need to establish a Council and the Office to combat money laundering and terrorism financing, exercise relevant to combating money laundering and terrorism financing tasks, and to determine penalties for the perpetrators of such crimes. Initiated this law