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Iraq moves away from the “grey list” for money laundering
Second and third 08/19/2024
Baghdad: Rula Wathiq
The Anti-Money Laundering and Terrorist Financing Office revealed that Iraq is far from being included in the gray list.
The representative of the office at the Central Bank, Hussein Al-Muqrim, told “Al-Sabah”:
“After completing the mutual international evaluation by the team of international experts that Iraq recently underwent - which lasted 14 months, to evaluate the technical compliance with the legal framework, regulations, instructions and controls for combating money laundering and terrorist financing.” He continued by saying:
“The effectiveness of the systems to combat money laundering and terrorist financing was also evaluated, by presenting statistics, in addition to practical cases, to prove the extent of application of the legislative framework, in addition to the field visit.” Al-Muqarram added,
“The evaluation report was discussed and approved by the Middle East and North Africa Financial Action Task Force (MENAFATF) last May,” noting that
“the initial results confirmed that the Republic of Iraq was moving away from inclusion in the gray list (enhanced follow-up), and
a plan was formulated.” Action and recommendations by international evaluators, to ensure compliance with international standards.”
The representative of money laundering at the Central Bank stated that
“the office has automated its procedures for receiving reports through the (goAML) system, and completed the electronic linkage of this system with several parties,” pointing out that
“the office seeks to cooperate with the Council for Combating Money Laundering and the Financing of Terrorism, to implement international standards, And apply the risk-based approach. Al-Muqrim also stated,
“The office is responsible for supervising and following up with all concerned parties, to implement the strategic objectives of combating money laundering and terrorist financing for the years 2023-2027, while building updated, comprehensive and confidential databases to meet international requirements, as well as training public and private sector employees, to spread awareness of combating terrorism.” Money laundering and terrorist financing. Al-Muqarram confirmed
“the adoption of a judge from the Judicial Council and employees from the office and the Central Bank, as international resident experts at the Middle East and North Africa Financial Action Task Force (MENAFATF) and (FATF) to benefit from those experiences and reflect them inside Iraq, to prepare Financial Investigations Guide.
https://alsabaah.iq/101289-.html
Second and third 08/19/2024
Baghdad: Rula Wathiq
The Anti-Money Laundering and Terrorist Financing Office revealed that Iraq is far from being included in the gray list.
The representative of the office at the Central Bank, Hussein Al-Muqrim, told “Al-Sabah”:
“After completing the mutual international evaluation by the team of international experts that Iraq recently underwent - which lasted 14 months, to evaluate the technical compliance with the legal framework, regulations, instructions and controls for combating money laundering and terrorist financing.” He continued by saying:
“The effectiveness of the systems to combat money laundering and terrorist financing was also evaluated, by presenting statistics, in addition to practical cases, to prove the extent of application of the legislative framework, in addition to the field visit.” Al-Muqarram added,
“The evaluation report was discussed and approved by the Middle East and North Africa Financial Action Task Force (MENAFATF) last May,” noting that
“the initial results confirmed that the Republic of Iraq was moving away from inclusion in the gray list (enhanced follow-up), and
a plan was formulated.” Action and recommendations by international evaluators, to ensure compliance with international standards.”
The representative of money laundering at the Central Bank stated that
“the office has automated its procedures for receiving reports through the (goAML) system, and completed the electronic linkage of this system with several parties,” pointing out that
“the office seeks to cooperate with the Council for Combating Money Laundering and the Financing of Terrorism, to implement international standards, And apply the risk-based approach. Al-Muqrim also stated,
“The office is responsible for supervising and following up with all concerned parties, to implement the strategic objectives of combating money laundering and terrorist financing for the years 2023-2027, while building updated, comprehensive and confidential databases to meet international requirements, as well as training public and private sector employees, to spread awareness of combating terrorism.” Money laundering and terrorist financing. Al-Muqarram confirmed
“the adoption of a judge from the Judicial Council and employees from the office and the Central Bank, as international resident experts at the Middle East and North Africa Financial Action Task Force (MENAFATF) and (FATF) to benefit from those experiences and reflect them inside Iraq, to prepare Financial Investigations Guide.
https://alsabaah.iq/101289-.html
