Central Bank committed banks to monitor customer before conversion
Adviser: Central Bank committed banks to monitor customer before conversion to curb money laundering
Date: 03/10/2012 11:07:37 Wednesday
Baghdad (news) .. He noted the central bank adviser appearance of Mohammed Saleh, put strict controls on the transfer of funds to the outside to reduce the process of money laundering, adding, that the controls will depend principle of “know your customer” as new.
Saleh said (of the Agency news) on Wednesday: that Iraq has witnessed a great freedom in transfer of funds abroad led to the emergence of mafias working for neighboring countries for hard currency, prompting the central bank to issue strict controls challenge of this process is going according to the principle of “know your customer” which obliges private banks and government knowledge of the customer. added: that all banks will audited transaction customer to check on the transfer of funds abroad. between: that the central bank put an end to the amounts transferred to the outside estimated ten thousand dollars allowed after identifying the customer’s identity, stressing that the central bank take responsibility for any breach gets and her children from investigating suspicious transactions and forwarded to the Bank Central Auditing and take legal action in respect thereof. explained: that the goal of the central bank to control the smuggling of hard currency to finance terrorism by exploiting the freedom of financial transfer to the outside. / end / 21. d. Q /