Home
Central Bank: Electronic payment systems have contributed to enhancing Iraq’s compliance with anti-money laundering
Economy Iraq breaking Central Bank Electronic payment Compliance Anti-money laundering
2024-09-14 01:46
Shafaq News/ The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Saturday that the use of electronic payment systems and technologies used in the banking sector has contributed to enhancing compliance in combating money laundering in the country.
These statements were made by Al-Alaq on the sidelines of his hosting of the conference on electronic payment towards financial stability in Iraq, which was held in the capital, Baghdad, and was attended by a Shafaq News Agency correspondent.
The Governor of the Central Bank said that the
world's focus today is on implementing compliance rules in combating money laundering, and that the
safety of banking operations is the safety of
society, the
economy,
internal and
external banking relations, and others. He stressed,
"There is a great focus on measuring the extent of compliance in each of the operations.
Therefore, when we apply anything within the framework of electronic payment and its various tools and channels or elsewhere, the question comes:
What is the capacity of compliance and governance in these operations?" Al-Alaq pointed out that
“when the conversation is about electronic matters, the application is easy and possible, and therefore the
level of compliance is much better than the usual traditional operations, and is even
faster and more accurate, and
gives a complete detail of all operations.” He added,
"Today, in using personal cards, we have a complete and direct analysis of all transactions.
Where do they take place?
What type of operations take place?
Are they consistent with compliance standards, sources of funds, etc.?
In the process of analyzing data, it is possible to give us important results and redirect matters in a way that does not represent... Any kind of fraud or hacking.”
https://shafaq.com/ar/اقتصـاد/البنك-المركزي-انظمة-الدفع-ال-لكتروني-ساهمت-بتعزيز-امتثال-العراق-بمكافحة-غسل-ال-موال
Economy Iraq breaking Central Bank Electronic payment Compliance Anti-money laundering
2024-09-14 01:46
Shafaq News/ The Governor of the Central Bank of Iraq, Ali Al-Alaq, said on Saturday that the use of electronic payment systems and technologies used in the banking sector has contributed to enhancing compliance in combating money laundering in the country.
These statements were made by Al-Alaq on the sidelines of his hosting of the conference on electronic payment towards financial stability in Iraq, which was held in the capital, Baghdad, and was attended by a Shafaq News Agency correspondent.
The Governor of the Central Bank said that the
world's focus today is on implementing compliance rules in combating money laundering, and that the
safety of banking operations is the safety of
society, the
economy,
internal and
external banking relations, and others. He stressed,
"There is a great focus on measuring the extent of compliance in each of the operations.
Therefore, when we apply anything within the framework of electronic payment and its various tools and channels or elsewhere, the question comes:
What is the capacity of compliance and governance in these operations?" Al-Alaq pointed out that
“when the conversation is about electronic matters, the application is easy and possible, and therefore the
level of compliance is much better than the usual traditional operations, and is even
faster and more accurate, and
gives a complete detail of all operations.” He added,
"Today, in using personal cards, we have a complete and direct analysis of all transactions.
Where do they take place?
What type of operations take place?
Are they consistent with compliance standards, sources of funds, etc.?
In the process of analyzing data, it is possible to give us important results and redirect matters in a way that does not represent... Any kind of fraud or hacking.”
https://shafaq.com/ar/اقتصـاد/البنك-المركزي-انظمة-الدفع-ال-لكتروني-ساهمت-بتعزيز-امتثال-العراق-بمكافحة-غسل-ال-موال
