The role of the Central Bank of Iraq in combating money laundering


The research aims to clarify the theoretical framework for the phenomenon of money laundering by defining it and indicating its stages, methods and criminal patterns. In order to reach the best methods and methods to address the research problem, the deductive approach was adopted, by making use of research and studies and employing them to accomplish the theoretical aspect of the current research. As for the practical side, the inductive and analytical approach was adopted. A survey list was prepared to show the role of the Central Bank in combating money laundering.The research reached a number of conclusions and recommendations. The most important conclusion of the research is that the Central Bank of Iraq takes its responsibilities in compliance with money laundering procedures seriously by preparing instructions, guidelines and laws applied to all financial institutions and following up the application of these laws and instructions and determining strict penalties in case of violation in the application or non-application. The most important recommendation is to increase the number of compliance officers commensurate with banking work, present all reports issued by the Anti-Money Laundering Department to the compliance controller, and increase follow-up to the bank's procedures in seizing the funds used in committing the crime of money laundering and its financing.