Finance Committee: money laundering is still going on in the country for the non-application of the law of combat by private banks
Finance Committee: money laundering is still going on in the country for the non-application of the law of combat by private banks
8.3.13
Baghdad (newsletter). The Deputy Chairman of the Finance Committee MP/Kurdistan blocs Coalition/Faizullah, the persistence of the phenomenon of money laundering and smuggling hard currency because it would damage the economy and drive towards low dinar exchange rate against the dollar.
He said Faizullah (News Agency): the phenomenon of money laundering are still ongoing in the country due to the non-application of the law of combat by financial institutions and private banks, along with the lack of real control and supervision by the Central Bank on financial transfers of currency.
He stressed: the need to compel all banks and money transfer companies to apply anti-money laundering Act to reduce this dangerous phenomenon on the economy, and that make the dinar exchange rate low to international currency.
The phenomenon of money laundering and money laundering a crime intended to add legitimacy to operations involving funds or gain possession, disposition, management or saved or replaced or deposited or invested, convert or transfer or manipulation in its value if obtained through crimes such as cultivation and manufacture of narcotic plants, narcotic substances and awalgwahr bring export and trafficking, hijacking, and detention of persons, crimes of terrorism and its financing, monument, dishonesty, deceit, fraud, Debauchery, prostitution, and trafficking and smuggling of Antiquities, felonies and misdemeanors harmful to State security on the outside and inside, bribery, embezzlement of public money and aggression, treachery and crimes walziov forged and counterfeit coins
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