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[size=35][size=35]Recovering funds collected from corruption crimes.. 4 Iraqi laws specialize in this[/size]
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09-26-2023 | 07:37
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Al-Sumaria News - Local
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Al-Zaidi stated, “Corruption is a scourge known to human societies. It has spread throughout all societies and has become linked to the human desire to obtain all gains and resort to illegal means to obtain those gains. The phenomenon of corruption has become global and affects all societies and legal, political and economic systems, so it has become necessary.” Establishing international and regional cooperation in all its forms and manifestations.”
He added, "The recovery of funds obtained from corruption crimes is one of the most important legal mechanisms for combating corruption, because extracting the funds obtained from committing one of these crimes from the hands of its perpetrators is one of the most effective means for the purpose of deterring its perpetrators. This penalty also contributes to combating other crimes such as the crime of money laundering." In order to implement procedures for recovering funds smuggled abroad or funds that are still within the borders of the state, there must be many legal procedures, both national and international, and the Anti-Money
Laundering and Terrorism Financing Law stipulates the term “money” as assets or properties that are obtained by any means, such as national currency. Foreign currency, securities, commercial securities, deposits, current accounts, financial investments, instruments, documents, precious metals, precious stones, commodities, and everything of financial value, whether real estate or movable property, and the rights related to them and what comes from that money, according to Al-Zaidi.
He revealed that "the obstacles that hinder the recovery of funds are the difference in legal systems and the lack of specialized agreements to recover funds and defendants. The Integrity Commission Law and the Iraqi Funds Recovery Law in force deal with the recovery of funds smuggled abroad. As for the Iraqi Code of Criminal Procedure in force, it has regulated the procedures for extraditing criminals, and Iraq has ratified its accession." To the [url=https://www.alsumaria.tv/Entity/44785/%D8%A7%D9%84%D8%A3%D9%85%D9%85 %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9/ar/]United Nations[/url] Convention against Corruption of 2005 and became bound by the various legislation contained in the agreement, pointing out that “the standard in determining the funds obtained from corruption crimes that must be pursued with the aim of recovering them is an objective standard, which is identifying the illicit source from which those funds resulted, regardless of the The place to track these funds, whether they are at home or abroad, and the recovery of funds obtained from corruption crimes finds its legal basis in the Constitution of the Republic of Iraq in force for the year 2005, but indirectly, as it can be reached through many constitutional texts.Among them is the emphasis on public money, and one of the problems that stands as an obstacle to the criminal prosecution of corruption crimes is the refusal of most countries to search for the banking information required in requesting legal assistance.”
Al-Zaidi continued in the article, “We find it necessary for the definition of corruption to be more comprehensive and to activate international rules as the legal basis for requesting legal assistance and organizing international agreements for the purpose of tracking and tracing smuggled funds. We also find it necessary to amend the Code of Criminal Procedure because it does not address the issue of recovering funds obtained from corruption.” Corruption crimes and to include mechanisms for recovering funds related to corruption crimes in order to comply with the legal provisions regarding the recovery of funds contained in the [url=https://www.alsumaria.tv/Entity/44785/%D8%A7%D9%84%D8%A3%D9%85%D9%85 %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9/ar/]United Nations[/url] Convention and amending the Federal Integrity Commission Law by adding a chapter that includes taking legal procedures and measures to collect information about smuggled funds for the purpose of prosecuting and recovering those funds and for the purpose of monitoring the subject of smuggling. “For money obtained from corruption, there must be an effective supervisory system to monitor financial transfer procedures carried out by banks to detect transactions of questionable origin.”
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09-26-2023 | 07:37
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Al-Sumaria News - Local
Judge Kazem Abdel Jassim Al-Zaidi spoke today, Tuesday, September 26, 2023, about the recovery of funds obtained from corruption crimes and the relevant laws in that regard, in an article he published in the newspaper of the Supreme Judicial Council.
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Al-Zaidi stated, “Corruption is a scourge known to human societies. It has spread throughout all societies and has become linked to the human desire to obtain all gains and resort to illegal means to obtain those gains. The phenomenon of corruption has become global and affects all societies and legal, political and economic systems, so it has become necessary.” Establishing international and regional cooperation in all its forms and manifestations.”
He added, "The recovery of funds obtained from corruption crimes is one of the most important legal mechanisms for combating corruption, because extracting the funds obtained from committing one of these crimes from the hands of its perpetrators is one of the most effective means for the purpose of deterring its perpetrators. This penalty also contributes to combating other crimes such as the crime of money laundering." In order to implement procedures for recovering funds smuggled abroad or funds that are still within the borders of the state, there must be many legal procedures, both national and international, and the Anti-Money
Laundering and Terrorism Financing Law stipulates the term “money” as assets or properties that are obtained by any means, such as national currency. Foreign currency, securities, commercial securities, deposits, current accounts, financial investments, instruments, documents, precious metals, precious stones, commodities, and everything of financial value, whether real estate or movable property, and the rights related to them and what comes from that money, according to Al-Zaidi.
He revealed that "the obstacles that hinder the recovery of funds are the difference in legal systems and the lack of specialized agreements to recover funds and defendants. The Integrity Commission Law and the Iraqi Funds Recovery Law in force deal with the recovery of funds smuggled abroad. As for the Iraqi Code of Criminal Procedure in force, it has regulated the procedures for extraditing criminals, and Iraq has ratified its accession." To the [url=https://www.alsumaria.tv/Entity/44785/%D8%A7%D9%84%D8%A3%D9%85%D9%85 %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9/ar/]United Nations[/url] Convention against Corruption of 2005 and became bound by the various legislation contained in the agreement, pointing out that “the standard in determining the funds obtained from corruption crimes that must be pursued with the aim of recovering them is an objective standard, which is identifying the illicit source from which those funds resulted, regardless of the The place to track these funds, whether they are at home or abroad, and the recovery of funds obtained from corruption crimes finds its legal basis in the Constitution of the Republic of Iraq in force for the year 2005, but indirectly, as it can be reached through many constitutional texts.Among them is the emphasis on public money, and one of the problems that stands as an obstacle to the criminal prosecution of corruption crimes is the refusal of most countries to search for the banking information required in requesting legal assistance.”
Al-Zaidi continued in the article, “We find it necessary for the definition of corruption to be more comprehensive and to activate international rules as the legal basis for requesting legal assistance and organizing international agreements for the purpose of tracking and tracing smuggled funds. We also find it necessary to amend the Code of Criminal Procedure because it does not address the issue of recovering funds obtained from corruption.” Corruption crimes and to include mechanisms for recovering funds related to corruption crimes in order to comply with the legal provisions regarding the recovery of funds contained in the [url=https://www.alsumaria.tv/Entity/44785/%D8%A7%D9%84%D8%A3%D9%85%D9%85 %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9/ar/]United Nations[/url] Convention and amending the Federal Integrity Commission Law by adding a chapter that includes taking legal procedures and measures to collect information about smuggled funds for the purpose of prosecuting and recovering those funds and for the purpose of monitoring the subject of smuggling. “For money obtained from corruption, there must be an effective supervisory system to monitor financial transfer procedures carried out by banks to detect transactions of questionable origin.”
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