Financial Crime World

Iraq Launches Financial Investigations Handbook to Combat Money Laundering and Terrorism Financing

A Major Step Towards Combating Illicit Gains

Baghdad, Iraq - November 27, 2023: In an effort to combat crimes that generate illicit gains, Iraq has launched a comprehensive Financial Investigations Handbook. This handbook aims to enhance the effectiveness of financial investigations across the country.

A Guide for Iraqi Authorities

The Financial Investigations Handbook is a detailed guide designed to equip Iraqi authorities with the necessary knowledge and techniques to investigate financial irregularities and illicit activities. The handbook provides clear instructions and practical insights, empowering law enforcement agencies, auditors, and legal professionals to:

  • Uncover hidden financial trails
  • Expose corrupt practices
  • Ensure justice is served

Launch Ceremony

The launch ceremony was attended by high-ranking officials from the Federal and Kurdistan Regional Governments, including:

  • Presidents of the Federal and KRI Commissions of Integrity
  • Presidents of the Federal and KRI Board of Supreme Audits
  • Officials from the Ministries of Interior and Central Bank of Iraq

Praise for the Handbook

Iraq’s Chief Justice, Dr. Faeq Zaidan, praised the efforts of those involved in developing the handbook, stating that it is a critical asset in the country’s pursuit of accountability and establishment of a robust financial system.

Support from UNDP and the US Government

The Financial Investigations Handbook was developed with the support of the United Nations Development Programme (UNDP) in Iraq, funded by the United States Government. UNDP Iraq Resident Representative, Auke Lootsma, commended the courage and persistence of those working to combat corruption, financial crimes, and money laundering.

Part of a Broader Program

The handbook’s development is part of UNDP’s Security Sector Reform and Rule of Law Programme, which aims to support the Iraqi government’s efforts towards long-term peace and stability through an improved security and justice sector.

Significant Results Already Seen

Iraq’s commitment to combating money laundering and terrorism financing has yielded significant results in recent cases, including:

  • The recovery of 100 billion Iraqi dinars
  • A substantial number of properties and high-value vehicles

The launch of the Financial Investigations Handbook is expected to increase efforts to deter complex financial crimes and recover illicit gains, promoting sustainable development in the country.

Regular Review and Updates

The handbook will be reviewed and amended regularly, with a review methodology adopted to seek feedback from its users.