Financial Crime World

IRAQ LAUNCHES MONEY LAUNDERING DETECTION TOOLS WITH UNDP SUPPORT

Strengthening Iraq’s Financial Sector against Fraud and Corruption

Basra, Iraq - The Iraqi government has successfully concluded a series of forensic auditing workshops with the United Nations Development Programme (UNDP) aimed at strengthening the country’s financial sector against fraud and corruption.

Training Program Equips Participants with Skills to Detect and Prevent Financial Crimes

The training program, which started in March 2023, equipped over 200 participants from various government agencies with skills to detect and prevent financial crimes. The eight-workshop series focused on forensic auditing, data analytics, digital forensics, and cybersecurity.

Participating Organizations

Participants included auditors, lawyers, and IT experts from the Federal Boards of Supreme Audit (FBoSA) and Commissions of Integrity (FCoI), as well as other government agencies.

Fostering a Culture of Shared Understanding and Joint Problem-Solving

The training aimed to foster a culture of shared understanding and joint problem-solving among participants, enabling them to effectively combat financial crimes across institutions. “The workshop helped us share practical and scientific ideas that we can deploy in our work environment to combat fraud and corruption in Iraq,” said Dalal Abdul Rahman Yassin, Financial Controller at KBoSA.

Forensic Auditing: A Specialized Form of Auditing

Forensic auditing is a specialized form of auditing that focuses on investigating patterns of potential financial irregularities or fraud. The training equipped participating organizations with the skills to investigate these crimes collaboratively and deepened their understanding of global standards in forensic accounting and auditing.

Project Background

The workshops were part of the UNDP project “Strengthening the Rule of Law and Human Rights to Sustain Peace and Foster Development in Iraq,” which aims to fortify the capabilities of investigative bodies in tackling complex financial crimes. The project has received funding from the US Bureau of International Narcotics and Law Enforcement Affairs (INL) since 2021.

Significance

The training is a significant step forward in Iraq’s journey towards a more transparent and accountable financial ecosystem, laying the groundwork for a safer and more prosperous future. “Through these workshops, we have become more knowledgeable about scientific methods of detection and discovery of fraud,” said Mr. Haitham Sabah Hussein, Director Digital Auditing at FBoSA.

UNDP Program on Rule of Law and Security Sector Reform

The UNDP program on Rule of Law and Security Sector Reform supports the Government of Iraq’s efforts to build trust and confidence between legal entities, public finance institutions, security sector institutions, and communities. The project ensures institutional development and capacity building for accountability and oversight.

Key Takeaways

  • The training equipped over 200 participants with skills to detect and prevent financial crimes
  • The workshops focused on forensic auditing, data analytics, digital forensics, and cybersecurity
  • Participating organizations included auditors, lawyers, and IT experts from the Federal Boards of Supreme Audit (FBoSA) and Commissions of Integrity (FCoI)
  • The project has received funding from the US Bureau of International Narcotics and Law Enforcement Affairs (INL) since 2021