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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    After the occupation ranked first in the world .. The fears and dangers of money laundering in Iraq

    Rocky
    Rocky
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    After the occupation ranked first in the world .. The fears and dangers of money laundering in Iraq Empty After the occupation ranked first in the world .. The fears and dangers of money laundering in Iraq

    Post by Rocky Tue 19 Sep 2017, 2:22 am

    [ltr]After the occupation ranked first in the world .. The fears and dangers of money laundering in Iraq[/ltr]
     Since 2017-09-19 at 10:05 (Baghdad time)
    [ltr][You must be registered and logged in to see this image.][/ltr]
    [ltr]Baghdad - Mawazine News[/ltr]
    [ltr]Laundering or money-laundering is an economic crime aimed at legitimizing illicit funds for the purpose of possession, disposition, management, preservation or transfer, and manipulation of their value if they are derived from crimes and their import, export and trade.[/ltr]
    [ltr]In the absence of supervision with the presence of informal outlets easy entry and exit of funds, in addition to the lack of control of the Iraqi government on the revenues and projects of political parties are growing in the country, which made Iraq to be ranked first in the index issued by the Basel Institute of Governance within the annual version Sixth as the most dangerous country on the Arab and global levels in the field of money laundering.[/ltr]
    [ltr]The Institute ranked 146 countries on the index according to their level of risk based on the quality of the AML / CFT framework in each country, as well as other relevant factors such as levels of corruption, financial sector standards and transparency.[/ltr]
    [ltr]The report is based on 14 sub-indices that are equally weighted in each country's score among the 10 most dangerous countries and zero to the least serious.[/ltr]
    [ltr]For his part, economic expert Dhargham Mohammed Ali, the weakness of the regulatory body and the absence of binding laws reveal the financial liabilities of political parties caused Iraq to occupy the first place in the field of money laundering, in addition to the unlimited flow of currency entry and exit through the informal outlets.[/ltr]
    [ltr]"Despite the parliament's vote on the anti-money laundering law and the adoption of the old banks and the central bank in theory, the law is weak in Iraq, the influence of the political parties and the absence of laws to disclose their financial liabilities and weak supervision of project financing," Ali said in an interview with Mawazine News. Made Iraq a fertile environment for money laundering and laundering, in addition to involvement in the financing of terrorism and provide financial grounds for him. "[/ltr]
    [ltr]Ali added that "the unlimited flow of currency entry and exit through the non-official and non-bank outlets because of the lack of control of the border crossings completely makes Iraq a fertile environment for laundering and money laundering."[/ltr]
    [ltr]The impact of money laundering on Iraq[/ltr]
    [ltr]Money laundering in Iraq has had a major impact on weakening national income through depletion of capital (foreign exchange). Capital has been smuggled abroad, leading to an imbalance between savings and consumption.[/ltr]
    [ltr]Money laundering has greatly affected the monetary instability in the country and has led to the distribution of income and its concentration in the hands of a small group, which has negatively impacted the society and caused the depletion of the national economy in favor of external economies and deductions from national income.[/ltr]
    [ltr]Money laundering has contributed to the spread of corruption, social crimes, administrative corruption, bribery, etc., and the low standard of living of citizens through the provision of counterfeit goods and services.[/ltr]
    [ltr]The Supreme Judicial Council decided that the investigation of money laundering crimes in all governorates should be investigated by the investigating judge concerned with the issues of the Anti-Money Laundering Office at the competent court in Al-Rusafa, as required by the public interest.[/ltr]
    [ltr]"The session of the Supreme Judicial Council resulted in a review of the issue of anti-money laundering and decided to appoint a judge to look into all cases of money laundering in the country," Judge Abdul Sattar Birqdar, spokesman for the Supreme Judicial Council, told AFP.[/ltr]
    [ltr]Berkdar added that "the meeting discussed the money laundering office of the Central Bank of Iraq," pointing out that "the Council concluded that the public interest requires that the investigation of money laundering crimes in all provinces to the judge competent to consider the cases of money laundering office in a court The realization of Rusafa on issues of integrity "[/ltr]


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