Combatting money laundering and terrorism financing: An evaluation of Iraq's legislature and actions
- Title
- Combatting money laundering and terrorism financing: An evaluation of Iraq's legislature and actions
- Abstract
-
Money laundering has been a big concern worldwide, with many nations trying to implement more effective methods to combat it. However, anti-money laundering controls vary from country to country. This has caused some challenges. Several studies have examined these inconsistencies and the anti-money laundering (AML) efforts to combat money laundering, defined as the illegal act of receiving money obtained through illicit means. Allowing money to flow through unlawful routes corrupts society further. Corruption has significant and more complex consequences on economic growth than a typical review would indicate. It destroys the excellent reputation of enterprises, affects economies and business competition, promotes skepticism, makes it difficult to follow the law, erodes faith in politics, and engenders suspicion. The article examined the policies and procedures implemented by the Iraqi government to combat money laundering and terrorism financing. The Iraqi legal system has made significant progress in formulating protocols and implementing required procedures to combat terrorism financing and money laundering. The nation has built tight policy frameworks and alliances with governing bodies and other nations to control these concerns. The AML and TFO office was founded in 2007 with a similar governance structure as the CBI. In addition, the office was restructured and oriented due to the international sanctions imposed in 2015 and the rising citation of Iraqi nationals' involvement in money laundering and terrorism funding operations. The country was removed from the FATF grey list in 2019 due to the adoption of strong policies and local government entities for creating control against money laundering and terrorism funding. Although coordination between the CTF and governing agencies is difficult to sustain, Iraq appears ahead of its neighbors in the battle against terrorism and money laundering.
- Scientific Type
- غير معروف
- Journal volume
- vol.17,No.1
- Collaboration type
- مشترك
- Publish Date
- June 1, 2022
- Participated Universities (Publication)
-
Alnoor University
- Scopus status
- In Scopus
- Scopus index year
- 2 022
- Scopus quarter
- 2
- Scopus citation score
- 1.100000024
- Clarivate status
- In Clarivate
- Clarivate index year
- 2 022
- Clarivate impafact
- 0.175999999
- Pub. Med. status
- Not In PubMed
- Author (Publication)
- زيد لقمان إسماعيل عبدي
- Journal (Publication)
- International Journal of Criminal Justice Science
- Publisher (Publication)
- South Asian Society of Criminology and Victimology (SASCV)
- ISSN
- 0973-5089
- Country (Publication)
-
India
- Country type
- عالمية
- College (Publication)
-
College of Law
- Departement (Publication)
-
Department of Law
- Media
-
Academic Paper
Part of Combatting money laundering and terrorism financing: An evaluation of Iraq's legislature and actions