[ltr]04/12/2023 - 13:22[/ltr]
Baghdad - people
Today, Wednesday, the Ministry of Justice detailed the goals of establishing the Money Laundering Division, and while summarizing its precise tasks and duties, it announced the issuance of instructions from the Central Bank of Iraq related to its work.
A spokesman for the Ministry of Justice, Kamel Amin, said in a statement to the official agency, followed by “NAS” (April 12, 2023), that “the ministry has established a division to reduce money laundering in the real estate market, and this is a step in combating corruption and is linked to the government program,” pointing to One of the anti-corruption measures is to stop money laundering and terrorist financing.
Amin added, "The establishment of this division is a local and international requirement, and it is directly linked to the Real Estate Registration Department," noting that "the tasks of this division are to report any suspicion of corruption or suspicions related to high-priced real estate."
He pointed out that "this division will work according to controls called due diligence controls that were issued by the Real Estate Registration Department in May of last year, which includes a guide on the mechanism of dealing, in addition to that this division carries out a training process for all employees in the real estate registration departments, as it started training of legal personnel.
And he continued, "Among its tasks is to communicate with all departments and people and update all information," noting that "instructions have been issued by the Central Bank related to the work of the division."
He pointed out that "the division's work will not take place in all governorates, but rather it will be in a number of real estate registration departments that have high-priced real estate," stressing that "the division's work will begin in the capital, Baghdad, and in areas that include high-priced commercial real estate."
He stressed that "there is a tendency to convert all data in the real estate registration departments into electronic data, as happened with the Notary Public," noting that "money laundering operations affected the rise in real estate prices in commercial areas, as is the case in theft of the century, which used part of its money to buy real estate." ".
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