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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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    “Taqam” publishes the most prominent provisions of the draft law “Recovering the proceeds of corrupt

    Rocky
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    “Taqam” publishes the most prominent provisions of the draft law “Recovering the proceeds of corrupt Empty “Taqam” publishes the most prominent provisions of the draft law “Recovering the proceeds of corrupt

    Post by Rocky Sun 23 May 2021, 8:09 am

    [size=45][size=41]“Taqam” publishes the most prominent provisions of the draft law “Recovering the proceeds of corruption”[/size]
     two hours ago
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    "Progress" agency publishes the most prominent contents of the draft law "Recovering the proceeds of corruption" presented by the President of the Republic, Barham Salih, to Parliament.
    The following are the highlights of the bill:
    - The procedures of this law are subject to all Iraqi state officials who have assumed the highest positions most vulnerable to corruption
    - The law aims to recover the following funds inside and outside Iraq
    - The Integrity Commission provides the Central Bank of Iraq with a list of high-ranking office holders, their family members and people close to them within three months from the date this law comes into effect, and is updated annually
    Investigation and investigation of corruption funds also includes members of the officials' families, friends and close associates
    - Holders of higher positions must submit a written declaration within 60 days of authorizing the Commission of Integrity and the Iraqi Courts to request information from countries in which they have bank accounts, otherwise, after the lapse of 60 days, he shall be deemed to have resigned from his post.
    Forming investigation and investigation teams between the Ministry of Foreign Affairs, the Intelligence Service, the Integrity Commission, the Central Bank of Iraq and the Board of Financial Supervision, in cooperation with countries, to investigate money smuggled abroad and the corrupt, and to collect information and documents on the funds of Iraqis in these countries who held high positions in Iraq.
    - The Ministry of Foreign Affairs, and through the relevant ministries and bodies, is laying down a plan to conclude bilateral agreements with countries to recover Iraqi funds smuggled abroad and their returns and the corrupt and hand them over to the Iraqi authorities.
    - Contracting with discreet international investigation companies in order to investigate Iraq's funds smuggled abroad and their returns.
    - Financial institutions shall notify the Central Bank of Iraq with lists prepared for financial transactions of more than 500 thousand US dollars in order to conduct investigations about them.
    - Iraqi financial institutions, under the supervision of the Central Bank, are obligated to verify customers to determine the identity of the owners of funds deposited in accounts valued at more than one million dollars.
    Cancellation or annulment of any contract or investment license concluded on the basis of a bribe, abuse of influence, or any act of corruption.
    - To encourage reporting of corruption, a financial reward of up to 5% of the value of the corruption crime is granted to the informant who provides information about a crime that leads to the recovery of corruption money
    Penalties for those convicted of corruption offenses include confiscation and expropriation of all their movable and immovable property, and legal documents and instruments.
    - The death of the accused of corruption or the expiration of the period of the lawsuit does not prevent him from being responsible for the crime and may not be pardoned, and his property and money are subject to penalties for corruption
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