Iraq is on the “white list” of countries in the fight against money laundering
{Economic: Al Furat News} The financial and economic advisor to the Prime Minister Mazhar Muhammad Salih said that Iraq is currently on the white list of countries in applying international standards in combating money laundering.
Saleh said in a press statement, “Iraq succeeded in curbing financial waste and combating money laundering by building experienced supervisory bodies that are committed to laws and regulations related to the financial and banking system,” explaining that “the package of financial reforms and effective measures to pursue sources of funds, led Iraq to restore the confidence of society.” international financial and commercial transactions.
The Prime Minister’s advisor added that “Iraq fought a war on money laundering gangs and pursued transfers, deposits and concealment operations with high efficiency at home and abroad,” noting that “the Anti-Money Laundering Office and the Money of Crime and Terrorism Office, which is financially and administratively independent and carries out information coordination work, is closer to the Intelligence Unit.” Finance”.
Saleh pointed out that “the office receives instructions and directions from the Supreme Council for Combating Money Laundering, Crime Funds and Terrorism, and includes in its membership representatives of ministries and agencies related to combating money laundering and financial crimes.”
He pointed out that “the crimes investigated by the Anti-Money Laundering Office relate to the transfer, transfer, deposit and concealment of funds as criminal outcomes, related to a wide spectrum that falls within the definition of funds, whether in cash or in kind, such as real estate, antiquities and many others that are considered a financial crime for which the law is held accountable. Iraqi No. 39 of 2015”.
The Prime Minister’s advisor confirmed that “Iraq is a member of the International Labor Organization for the Middle East and North Africa,” explaining that this membership helped Iraq implement international standards in combating money laundering and exit from the gray list and enter the white list of countries that combat money laundering.
Last Thursday, the European Commission delegation delivered a letter to Prime Minister Mustafa Al-Kazemi, which included removing Iraq from the European Union’s list of countries with high risks in the field of combating money laundering and terrorist
financing. According to the Iraqi Ministry of Foreign Affairs.
In May 2020, the European Commission classified Iraq, along with other countries, including Afghanistan, Pakistan, Syria, Yemen, Iran and North Korea, on the list of countries that pose financial risks to the European Union, due to the shortcomings in combating money laundering and terrorist financing.
According to the Vienna Convention of 1988, the crime of money laundering is the transfer or transfer of funds with the knowledge that they are derived from any crime or crimes, with the aim of concealing or disguising the illegal source of funds or with the intention of helping any person involved in the commission of such crime or crimes to evade legal consequences for his actions.
Alforatnews.iq