25 Apr

Iraq is outside the UK’s high risk country ranking

Within the framework of the efforts of the Central Bank of Iraq and through the Office of Combating Money Laundering and Terrorism Financing in developing the business environment within the international compliance standards for combating money laundering and terrorist financing, “The British Treasury in the United Kingdom Government Department has not included the name of […]

25 Apr

Approval of the third annual report of the Council for Combating Money Laundering and Terrorism Financing

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 […]

25 Apr

The first regular session of the AML / CFT Council for the year 2020

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 […]

30 Jun

Our participation in the general meeting of the (FATF) for the period from 16 to 21 June 2019

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, […]

08 Apr

New UN resolution reaffirms the close collaboration between the FATF and the United Nations in the fight against terrorist fighting

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 […]

08 Apr

With New Laws and Some Help, Iraq Turned Around Anti-Money-Laundering Problems

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 […]

08 Apr

Parliament criticises Council’s rejection of money laundering blacklist

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 […]