Finance Committee: money laundering is still going on in the country

Finance Committee: money laundering is still going on in the country for non-application of the law of combat by private banks

03-08-2013 06:48 AM

Finance Committee: money laundering is still going on in the countryBaghdad (news) .. Warned Vice President of the Finance Committee MP / coalition of Kurdish blocs / Ahmed Faizullah, the persistence of the phenomenon of money laundering and smuggling of foreign currency because it would hurt the economy and drive toward the low exchange rate of the Iraqi dinar against the dollar. said Faizullah (of the Agency news): The phenomenon of money laundering is still ongoing in the country due to lack of law enforcement combat by financial institutions and private banks, in addition to the lack of control and real control by the central bank on the operations of financial transfer of currencies. stressed: the need to bind all the banks and financial transfer the application of the law against money laundering to reduce these dangerous phenomenon on the economy, and that makes the dinar exchange rate low in front of the international currency earnings. and is the phenomenon of money laundering or bleaching funds a picture of economic crimes which aims to add legitimize the processes involved to earn money, acquisition or disposition or management or conservation replacement or deposited or invested, convert or transfer or manipulation in value if obtained from crimes such as agriculture and manufacturing narcotic plants Ojawahr and substance abuse, retrieve, export and trafficking, kidnapping and transportation, and detention of persons and crimes of terrorism and financing, and fraud, dishonesty, fraud, fraud, and debauchery and prostitution, trafficking and smuggling of antiquities, felonies and misdemeanors harmful to state security on the one hand outside and inside, bribery, misappropriation of public money and aggression, and treachery, and crimes coins and Zeoff counterfeit and forgery. / End / 8.’s. m /