Financial Crime World

Financial Crime Trends in Iraq: Experts Warn of Rising Threats to Economic Stability

New Training Initiative Aims to Strengthen Capabilities in Investigating Financial Crimes

Baghdad - The United Nations Development Programme (UNDP) has launched a multi-year training initiative in Iraq aimed at strengthening the country’s capabilities in investigating and prosecuting complex financial crimes.

Program Overview

The Organized and Financial Crime Investigations: An Integrated Approach program is backed by the US Government and the Supreme Judicial Council of Iraq. The program will equip judges and investigators with the skills and expertise needed to tackle financial crimes, including:

  • Corruption
  • Money laundering
  • Illicit wealth accumulation

Motivation Behind Financial Crimes in Iraq

According to experts, personal enrichment is the primary motivation behind most financial crimes in Iraq, causing significant harm to the country’s economy and people.

Quote from US Ambassador Matthew Tueller

“Efficient tools and policies are needed to help investigate and prosecute financial crimes, as they hinder the Iraqi state and people.”

Corruption, money laundering, and illicit wealth accumulation have become major impediments to Iraq’s economic recovery, stability, and development.

Quote from Zena Ali-Ahmad, UNDP Resident Representative

“These crimes create an atmosphere of privilege and injustice, undermining trust in institutions and perpetuating inequality.”

Initiative Details

The program is part of UNDP Iraq’s Security Sector Reform/Rule of Law Programme, funded by the US Government. The project includes:

  • Workshops for Iraqi government institutions on organized and financial crimes
  • Development of a handbook on leading and conducting complex financial crime investigations

Quote from Faiq Zaidan, Chief Justice of the Supreme Judicial Council

“We will work closely with colleagues from investigative agencies to ensure effective collaboration.”

Critical Step Towards Strengthening Iraq’s Capabilities in Combating Financial Crimes

The initiative is seen as a critical step towards strengthening Iraq’s capabilities in combating financial crimes and promoting economic stability.