Judges: Weak banking supervision easy to smuggle millions of dollars overseas.
Judges: Weak banking supervision easy to smuggle millions of dollars overseas.
Tuesday, October 4, 2016 16:17
BAGHDAD / Baghdadi Uz..okd specialize judges money laundering issues, the weakness of the banking supervision is easy to smuggle millions of dollars abroad, noting that millions of dollars were smuggled out of the country by traders and bankers and fictitious companies and money transfer.
Qazi said the achievement of money laundering Iyad Muhsin ligature to the “elimination” and I followed / Baghdadi News / that “of these methods to carry out import fake and convertibility of the dollar abroad and the use of other people, and 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 such transfers are legitimate business purposes. ”
“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, but some companies sell the dollar on the black market and provide copies of travel tickets and passports fakes.”
He pointed out that “The second purpose is for the purpose of importing the private sector through currency auctions,” pointing out 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 the the private banks. ”
The ligature that “the agreement gets with people representing the facades of them and recording General trade names companies 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 legal, and mechanisms set by the central bank to sell the dollar during the auction currency be 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. ”
He said the “process of buying the dollar to be between the National Bank and the Central Bank in order to cover as requested by the customer, and the legal obligations imposed by the central bank to private banks under the law in accordance with the Know Your Customer principle, where is the responsibility of those banks to verify who deals with it and need to know whether the customer any merchant can that being such import process and has the money or is it a front for cover sources of funds owned by criminals. ”
He explained ligature “The facts show that a trader offering 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, and 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 had been It entered into Iraq, and there is the central bank approached the customs department and then be revealed fraud and conducting court investigations. ”
And increased ligature that “the bank’s verification of the ability of the client to repay his trust, and if he found the inability by the central bank reported a 15-day that there is a discourse suspicious, private banks have become an easy gateway for operations of money laundering, under the facts presented, the central bank has always cast full blamed on private banks and this is not true; because the latter is not a government agency and that the sanctions Ttoulha administrative only. ”
He ligature that “controls and audits to buy the currency to be later and after the loss of funds withdrawn and the central bank often imposes fines on banks that do not adhere to their customers with instructions auction of the currency and the violator to pay the price difference between the value of the dollar in the markets and bought from the central bank.”
For his part, the cover of integrity and money laundering Radi Fartusi judge said that “our courts to deal very seriously with this kind of issues and resolving many of them, some of the delay in resolving the case be for reasons not related to the elimination of including non-completion of the administrative investigation of the relevant authorities.”
He criticized Fartusi “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 and not check those actors permits and invoices submitted by the banks and customers before their participation in the foreign currency auction.”
One of the strange cases before the judiciary, Fartusi “The young man did not exceed 25 years has nourished his account of $ 10 million confirmed and although it works taxi driver after checking with him turned out to be the interface used by one of the parties for the purpose of laundering the funds and turn them out of Iraq,” .anthy 21 / d
albaghdadianews.com
