Iraq cannot hold any one of money laundering crime until adopt MLA 9/21
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    Iraq cannot hold any one of money laundering crime until adopt MLA 9/21

    Iraq cannot hold any one of the money laundering of the delayed adoption of the money laundering Act
    By: wab1
    Date: Tuesday, 22-09-2015 01:48 am

    Baghdad: Baghdad news
    Economist Mohammed dargham stressed that "the most important money laundering

    Economic crimes resulting from economic openness in the country after 2003 and allowed investors to capital input and output without censorship ".
    Mohamed Ali said in an interview with "Baghdad", on Monday that "this crime is not limited to Iraq but are organised in different parts of the world and feel so potential American-owned, for example, the expertise and procedures to assist and support banks to reduce or get rid of that crime".
    He added that "the disadvantages of money laundering is not only economic, but harms security and harms related to prohibited activities and the financing of crime and terrorism networks and economic damage are pumping funds prohibited trading and suspicious funds vs. funds exit from inside the country."
    He noted that "the money laundering Act, published in Official Gazette 2004, number 93, shall be punished with imprisonment for not more than two years to do a serious offence as the offence of money laundering to finance the Commission of crimes, and the crime of laundering money to finance terrorist operations, who accepted this punishment to the already large and dangerous, especially to commit this Act starts from the person of the applicant to commit some money promotion of the banking profession and the banking and financial employers banks?".
    He Mehmet Ali, the penalty is not sufficient cause to eliminate crime, but grounds for punishment, so it must be taken to stand in front of this great waste of Iraqi funds, the same was said of the Central Bank Act No. 56 of 2004 and the Banking Act No. 94 of the publication in 2004 of causes and the same ills that have modified these laws in one package to the provisions contained in any law provisions contained in other laws.
    Meanwhile, the economic expert Abdul Rahman Al-Mashhadani, the anti-money laundering law in Iraq is one of the conditions the International Monetary Fund, which organized the movement of capital to and from Iraq and prevent the exodus of funds from Iraq illegally, "Mashhadani said in an interview with" Baghdad ", on Monday, to" anti-money laundering law will regulate the movement of funds to and from Iraq, and is one of the main conditions of the International Monetary Fund and the World Bank and other international financial institutions on capital movements , Especially since Iraq became famous worldwide for the bleaching process funds both at home and abroad. "
    He noted that "the adoption of the anti-money laundering Act before September 31, presumably by members of the House of representatives and in particular of the financial and economic committees to accelerate adoption of this law and its implementation on the ground to get Iraq on the loans from world financial bodies, and Parliament was obliged to endorse in any way whatsoever to carry out all its financial obligations towards the international institutions." And between, "this law was passed in the House of representatives since 2006 in order to keep our money, so now Iraq cannot hold any one of the money laundering in accordance with the penal law not only punishing the laundering process.
    Last edited by rcookie; 09-22-2015 at 11:19 AM.

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