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Iraq seeks to recover its money smuggled in Dubai and Morocco
- Time: 09/06/2021 08:24:49
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{Economic: Al Furat News} The judge of the Rusafa Court competent to consider issues of integrity, money laundering and economic crime, Iyad Mohsen Dammad, revealed efforts to recover smuggled money in both the Kingdom of Morocco and the Emirate of Dubai in the United Arab Emirates.
He said ligature, in a press statement that "by virtue of issues considered by the Court of achieving competent Rusafa issues of integrity and money laundering, dozens of issues concerning outlets (Ironing Card) exchange companies that operate and shift funds out of Iraq without leave," adding that "such The work was marred by many suspicions of currency smuggling and money laundering."
He added that "the instructions of the Central Bank of Iraq impose severe and strict restrictions on the registration of exchange companies, and the bank exercises strong and high control in cooperation with the Organized Crime Directorate on these offices, however, many individuals work outside official institutions." "procedures require the closure of the port or banking and referred the case to the judge competent to investigate and take legal action against the owner of banking, and if financial transfers, they check to make sure that these funds did not go to terrorist entities and that things are nothing more than economic matters and exchange transfers accounts and are then dropping off penalties against violators.
Damad stated that "the judiciary looks at the cases referred to it by the competent investigative authorities, such as the Integrity Commission and the joint investigative committee between it and the Ministry of Interior. Many prison and prison sentences have been imposed on heads of bodies, general managers and ministers, as well as on influential people who have a large presence in the private sector,” he said, expecting that “more judgments will be issued in the future.”
He cautioned the judge Rusafa court that "efforts are being made to recover a lot of money outside Iraq, and specifically in the Kingdom of Morocco and the Emirate of Dubai in the United Arab Emirates", stressing that "while the authorities can law enforcement cooperation with the judiciary to recover funds associated with crime, the institution of judicial will go a long way in this subject".
And regarding the recovery of Iraq’s money smuggled abroad, he explained that “there is an office in the Central Bank to combat money laundering, which has high coordination and joint cooperation agreements with the equivalent offices that exercise the same competence in the money laundering, so that the money is opened to them and the accounts are opened to them. For each accused to know how much he has of balances,” he warned, noting that “the discovery of many of the accused have balances in some neighboring countries, which necessitated placing a sign of seizure, and he is in the process of referring the call to confiscate these funds.”
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{Economic: Al Furat News} The judge of the Rusafa Court competent to consider issues of integrity, money laundering and economic crime, Iyad Mohsen Dammad, revealed efforts to recover smuggled money in both the Kingdom of Morocco and the Emirate of Dubai in the United Arab Emirates.
He said ligature, in a press statement that "by virtue of issues considered by the Court of achieving competent Rusafa issues of integrity and money laundering, dozens of issues concerning outlets (Ironing Card) exchange companies that operate and shift funds out of Iraq without leave," adding that "such The work was marred by many suspicions of currency smuggling and money laundering."
He added that "the instructions of the Central Bank of Iraq impose severe and strict restrictions on the registration of exchange companies, and the bank exercises strong and high control in cooperation with the Organized Crime Directorate on these offices, however, many individuals work outside official institutions." "procedures require the closure of the port or banking and referred the case to the judge competent to investigate and take legal action against the owner of banking, and if financial transfers, they check to make sure that these funds did not go to terrorist entities and that things are nothing more than economic matters and exchange transfers accounts and are then dropping off penalties against violators.
Damad stated that "the judiciary looks at the cases referred to it by the competent investigative authorities, such as the Integrity Commission and the joint investigative committee between it and the Ministry of Interior. Many prison and prison sentences have been imposed on heads of bodies, general managers and ministers, as well as on influential people who have a large presence in the private sector,” he said, expecting that “more judgments will be issued in the future.”
He cautioned the judge Rusafa court that "efforts are being made to recover a lot of money outside Iraq, and specifically in the Kingdom of Morocco and the Emirate of Dubai in the United Arab Emirates", stressing that "while the authorities can law enforcement cooperation with the judiciary to recover funds associated with crime, the institution of judicial will go a long way in this subject".
And regarding the recovery of Iraq’s money smuggled abroad, he explained that “there is an office in the Central Bank to combat money laundering, which has high coordination and joint cooperation agreements with the equivalent offices that exercise the same competence in the money laundering, so that the money is opened to them and the accounts are opened to them. For each accused to know how much he has of balances,” he warned, noting that “the discovery of many of the accused have balances in some neighboring countries, which necessitated placing a sign of seizure, and he is in the process of referring the call to confiscate these funds.”
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