The Council of Ministers announced, in its meeting held on November 24, 2020, the approval of the third annual report of the Council for Combating Money Laundering and Financing Terrorism, in the presence of (Chairman of the Council – Governor of the Central Bank of Iraq). The Council of Ministers called for the Office of […]
His Excellency the Governor of the Central Bank of Iraq, Chairman of the Council for Combating Money Laundering and Terrorism Financing, Mr. Mustafa Ghaleb Makhaif, chaired the first regular session of the Council for the year 2020, which included members of the Council from the relevant ministries and departments not linked to a ministry. The […]
AML / CFT participated in the FATF General Meeting (16-21 June 2019) in Olandou / United States of America, as Representative of the Republic of Iraq. During this plenary session, the members celebrated the 30th anniversary of the Financial Action Group FATF Several topics were discussed during the meetings, including: Key Strategic Initiatives Mutual evaluation, […]
IMF Staff Completes 2019 Article IV Mission on Iraq
No country is immune from terrorism. All countries are at risk of being involved in the financing of terrorism, whether or not they themselves have been the victims of terrorist attacks. New York, 28 March 2019 – The global threat from terrorism continues to grow and evolve, from returning terrorist fighters to right wing extremists. The […]
Seven years ago, Iraq’s financial system was beset by problems. An estimated $800 million in U.S. currency was illegally flowing out of Iraq every week, Iraqi auditors told American investigators at the time. And the central bank governor was dismissed after corruption had become institutionalized within the country’s government and political system. Iraq landed on […]
MEPs expressed concern on Thursday that member states have scuppered the Commission’s plan to place new countries on the EU money-laundering blacklist. The resolution was adopted by a show of hands with an overwhelming majority. The adopted resolution comes one week after member states refused to include 23 countries on an updated blacklist. These countries […]
The Iraqi AML/CFT office has participated in a workshop on Methods and practices used in Financial Intelligence Analysis from (6-11 August 2018) In Beirut – Lebanon , and it was Sponsored by United Nations Office on Drugs and Crime (UNODC) in cooperation with Lebanese Special Investigation Commission and Egyptian Money Laundering and Terrorist Financing Combating […]
The FATF welcomes Iraq’s significant progress in improving its AML/CFT regime and notes that Iraq has established the legal and regulatory framework to meet the commitments in its action plan regarding the strategic deficiencies that the FATF identified in October 2013. Iraq is therefore no longer subject to the FATF’s monitoring process under its ongoing […]
The Office is established in the Central Bank of Iraq and is called the AML / CFT Office at the level of a public department that enjoys moral personality and financial and administrative independence.