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Preparing a draft law to combat money laundering


k98nights
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Preparing a draft law to combat money laundering

Ali Abdullah - 09/28/2012 - 11:23 AM | Hits: 32

Detection office money laundering of the Central Bank of Iraq, Friday, for the preparation of a new draft law to money laundering, according to the actual need for the requirements phase and challenges, noting that the project will be submitted soon to the House of Representatives. said Director of the Office money laundering Khaled Cltag in a press statement that his office "under the guidance of the Board Joint Anti-Corruption in the General Secretariat of the Council of Ministers in 2009 prepared a draft of a new law to combat money laundering and raising to the Council of Ministers. " and explained that "the project has been discussed and is currently subject to scrutiny in preparation for transmission to the House of Representatives," pointing out that "the law currently in force is the law No. 93 for the year 2004. " and added that "the Republic of Iraq joined the United Nations Convention against Corruption thus became anti-money laundering and corruption a national project and has the support of presidencies in the country, according to the need in light of the problems and challenges become a duty to prepare a new law." and punishes the law against money laundering force fine no more than 40 million Iraqi dinars, or twice the value of money used in the deal, whichever is greater, or imprisonment for not more than 4 years, or both for each of the runs or trying to manage financial transaction employs revenues somehow illegal activity clairvoyant that money used is revenue somehow illegal activity or both transmits or sends or transmitting means cash or exaggerated revenues account for some way to illegal activity knowing that this means cash or money representing the proceeds in some way for illegal activity. also punishable by a fine of not less than 20 million Iraqi dinars, or imprisoned for not more than two years, or both for each of the offers money or conceal or gloss over the nature or place or source or ownership of the money, knowing or intending, that this money is used to create for the purpose of or implementation of a breach of the law or configuration for the purpose of or implementation to cover up the escape from the commission of any breach in the financing of crime or attempts or conspires to such activity.

http://www.burathanews.com/news_article_171016.html

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Preparing a draft law to combat money laundering

Ali Abdullah - 09/28/2012 - 11:23 AM | Hits: 32

Detection office money laundering of the Central Bank of Iraq, Friday, for the preparation of a new draft law to money laundering, according to the actual need for the requirements phase and challenges, noting that the project will be submitted soon to the House of Representatives. said Director of the Office money laundering Khaled Cltag in a press statement that his office "under the guidance of the Board Joint Anti-Corruption in the General Secretariat of the Council of Ministers in 2009 prepared a draft of a new law to combat money laundering and raising to the Council of Ministers. " and explained that "the project has been discussed and is currently subject to scrutiny in preparation for transmission to the House of Representatives," pointing out that "the law currently in force is the law No. 93 for the year 2004. " and added that "the Republic of Iraq joined the United Nations Convention against Corruption thus became anti-money laundering and corruption a national project and has the support of presidencies in the country, according to the need in light of the problems and challenges become a duty to prepare a new law." and punishes the law against money laundering force fine no more than 40 million Iraqi dinars, or twice the value of money used in the deal, whichever is greater, or imprisonment for not more than 4 years, or both for each of the runs or trying to manage financial transaction employs revenues somehow illegal activity clairvoyant that money used is revenue somehow illegal activity or both transmits or sends or transmitting means cash or exaggerated revenues account for some way to illegal activity knowing that this means cash or money representing the proceeds in some way for illegal activity. also punishable by a fine of not less than 20 million Iraqi dinars, or imprisoned for not more than two years, or both for each of the offers money or conceal or gloss over the nature or place or source or ownership of the money, knowing or intending, that this money is used to create for the purpose of or implementation of a breach of the law or configuration for the purpose of or implementation to cover up the escape from the commission of any breach in the financing of crime or attempts or conspires to such activity.

http://www.burathanews.com/news_article_171016.html

WOW.......great news.

"the law currently in force is the law No. 93 for the year 2004. " <==== this is the law that CPA used to bind Iraq under IMF Article 14..

Edited by zul
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