Financial Crimes

1/16/2017 0:17

Samir Alnasiri
methods and practices of individuals and companies involved financial crimes or have evolved so - upon economic crimes in most countries in the world that can be identified as money laundering crimes (money laundering) and crimes of electronic payment and currency counterfeiting and securities fraud and fraud crimes.

Therefore, government agencies and judicial bodies amended the laws in force and develop procedural and electronic means for control of the reduction of these Jerim to keep their money and national economy.

Iraq , like other countries picked his services and economic and legislative institutions in the fight against these crimes , where issued money laundering No. 39 Act of 2015 , which included 12 chapters and materials identified the crimes covered by the law and sanctions for all this financial crime as well as counterfeiting, forgery and fraud offenses provided for by the Iraqi sanctions and instructions issued by the Law financial authority monetary authority - represented Almrkera Bank of Iraq to combat these crimes in order to maintain Iraq 's money and , in particular foreign currency because of the impact of these crimes in the national economy and the creation of economic and financial crises , suffocating him and reflection Al sustainable development.

The most dangerous of all is the lack of financial and banking institutions commitment to rules compliance , which means their exposure to financial and legal risks and the most important reputational risks that directly affect Iraq 's economic, financial and banking transactions.

Affecting the foreign economic relations of Iraq with the countries of the world and in particular on the financial and banking Arab and foreign correspondent banks, but only laws and judicial proceedings of Interior would be unable alone to combat this financial crimes , which requires the development of domestic and international pre - emptive censorship tactics to adopt policies regulated by international agreements to cooperate in reducing mechanisms financial crimes related to money laundering and terrorist financing and financial crimes E on the operations of electronic payment and reach the ultimate beneficiary and end-use of funds coming out of Iraq for the purposes of import of all kinds
and forms.

Which requires training and qualification of supervisory and specialized technical staffs on the subject of money laundering and the application of international standards in this area.

Therefore , the Central Bank of Iraq and the Association of Iraqi private banks and the Iraqi judiciary planned to carry out specialized courses during 2017 jointly by the Angels and banking regulatory and judicial for the exchange of experiences and cooperation among them to reduce the financial and economic crimes and are granted a certificate dedicated to combating money laundering and detecting counterfeit currency also call for the organization of specialized courses in the discovery of the means of fraud for letters of guarantee and bonds and all other securities.

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