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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The central bank, banks and civil auction arcade laundering and smuggling money out of Iraq

    Rocky
    Rocky
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    • Post n°1

    The central bank, banks and civil auction arcade laundering and smuggling money out of Iraq Empty The central bank, banks and civil auction arcade laundering and smuggling money out of Iraq

    Post by Rocky Sun 09 Oct 2016, 7:16 am

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    Judges specialize money laundering issues revealed that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies and money transfer. 
    And knows Iyad Muhsin ligature magistrate money laundering a crime as' legitimize the funds of illicit origin, to make them look legitimate by using the methods of image several '. 
    ligature he said in an interview with' newspaper judiciary ', that' of these methods to carry out import fake and convertibility of the dollar abroad and the use of other people. " 
    He added that 'it is through open small accounts in their names and the distribution of these amounts on their accounts in order to defragment the amounts and make them look small and then assembled in another account the various transactions and conduct of which or transferred out of the country, without having to these conversions commercial legitimate purposes '. 
    According to ligature that' the central bank sold dollars to achieve two purposes, the first exchange companies weekly share that these companies are selling to the purports to travel for treatment or tourism for less than the market price ', adding that' some companies sell the dollar on the black market and provide copies of travel tickets and passports fakes'. 
    he said ' The second purpose is for the purpose of importing the private sector through auction currency', noting that ' the most image again to launder the money in Iraq , speaking through an auction selling the currency at the central bank and that the fact that the perpetrators of embezzlement and bribery crimes and charging commissions to deposit their money in accounts at private banks. " 
    He pointed out that' a deal get along with people representing the facades of them and record trading companies General names and then applying to enter the auction sale of the dollar under the pretext of covering the import of the private sector 's needs and transfer millions of dollars into the financial accounts abroad without the introduction of the goods against which will then be their dealings suspicious without commercial purposes or illegal. " 
    he stated that ' the mechanisms established by the Central Bank to sell the dollar during the currency auction is open merchant account at Ahli Bank in order to get what he needed from the central bank after submitting a request to buy the currency strengthened lists the purchase of goods and clearance from the tax and import license from the Iraqi opposition. ' 
    ligature and explained that' the process of buying the dollar to be between the National Bank and the World Bank Central to the purpose of covering as requested by the customer. ' 
    and that' legal obligations imposed by the central bank to private banks under the law in accordance with the principle of[know your client] , where is the responsibility of those banks to verify who deals with it and need to know whether the customer any merchant can take place , such as the import process this has the money or is it front to cover the sources of funds owned by criminals. " 
    he adds ligature that ' the facts indicate that the merchant provides documents and forged documents and lists and permits fake by private banks to check to buy the currency demand and turning it to the outside." 
    he said that' the incident is exposed after the specified period of three months , a period that are imposed on the client after submitting permits stating that the goods have entered into Iraq, and there is the central bank approached the customs department and then be revealed forgery and conducted the court investigation. ' 
    due ligature to the principle of [know your client], saying' the bank verification of the client 's ability to repay his trust, and if he found the inability to inform the Central Bank during the 15 day discourse that there is a suspect. ' While denied 'record any case of this kind against any customer', felt that the 'private banks have become an easy gateway for operations of money laundering.' 
    Increased 'under the facts presented, the central bank has always cast full on private banks blame and this is not true; because the latter is not the point government and that sanctions Ttoulha administrative only. " 
    He stressed that 'controls and audits to buy the currency to be later and after the loss of funds withdrawn', calling that 'checks carried out by the exchange process." 
    He called ligature B'oda mechanisms to audit the invoices health and confirming customer 's account and the fact that the required amounts Is it to cover imports by the private sector or for other reasons. ' 
    reported that' crime borne by the merchant and all the people who contributed to feeding their account and the bank that its obligations has not been implemented as money laundering law. " 
    according to the judge of money laundering, the 'punishment of those responsible for causing the bank this type from the offenses are a misdemeanor , a penalty merchant themselves , but they may reach their right to life imprisonment if it is proved that the amounts allocated to support terrorist operations. " 
    it was to be ' the central bank often imposes fines on banks that do not adhere to their customers with instructions auction currency', noting that 'violator to pay the price difference between the value of the dollar in the markets and bought from the central bank.' 
    and he finished by saying that 'most of the court from the door to receive reports of these crimes , including the reporting of money laundering office, in addition to monitoring the banking and credit of the Central Bank Directorate through conducted by committees audit and inspection, as the court receives sometimes reports from informants ordinary. ' 
    completed by saying that the ' court of inquiry of money laundering has completed dozens of cases and referred the perpetrators of money laundering crimes to misdemeanors and criminal courts. " 
    for his part , says the judge misdemeanors integrity and money laundering Radi Fartusi told to 'eliminate', that 'our courts deal very seriously with this kind of issues and resolving many of them.' 
    Fartusi He said 'delay the resolution of some of the lawsuit is for reasons not related to the elimination of including non -completion of the administrative investigation of the relevant authorities.' 
    criticized ' is not selected stakeholders purchased for amounts by private banks when conducting the administrative investigation, as well as the amount of damage achieved as a result of money laundering.' 
    also complained Fartusi not 'check those actors permits and invoices submitted by the banks and customers before their participation in the foreign currency auction. " 
    One of the issues exotic before the judiciary, Fartusi said that ' a young man of only 25 years , which recharged his account of $ 10 million and although it works taxi driver after checking with him and show that interface you used one of those for the purpose of laundering the funds and turn them out of Iraq. "


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