Iraq Takes Major Step Forward in Combating Financial Crime with Launch of Handbook on Financial Investigations
A Comprehensive Guide to Enhancing Financial Investigation Effectiveness
Iraq has made significant progress in combating financial crimes with the launch of a Financial Investigations Handbook. This comprehensive guide aims to equip Iraqi authorities with the necessary knowledge and techniques to effectively investigate financial irregularities and illicit activities.
Launch Ceremony Attended by High-Ranking Officials
The handbook’s 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
- Representatives from the Ministries of Interior and the Central Bank of Iraq
First-of-Its-Kind Initiative in Iraq
According to Chief Justice of the Supreme Judicial Council, Dr. Faeq Zaidan:
“This is a first-of-its-kind initiative in Iraq, and I commend the efforts of those who took part in its development. The success in confiscating assets generated from money laundering crimes is evidence of our commitment to international standards for combating money laundering and terrorism financing.”
Collaborative Effort
The handbook was developed through a collaborative effort between a working group comprising representatives from 11 Iraqi institutions, including:
- Federal and KRI judiciary
- Federal Commission of Integrity
- Commission of Integrity of the KRI
- Other relevant bodies
Praise for the Handbook
Judge Abd Aljabar Azeez Hasan, Chief Justice of the Judicial Council of the Kurdistan Region, described the handbook as a “practical guideline that unifies financial investigation procedures applied by the judiciary and law enforcement authorities.”
Judge Kawa Fathi Maasom, President of the Prosecution Agency of the KRI, praised it as a “one-stop reference guide that provides step-by-step procedures for conducting parallel, integrated financial investigations.”
UNDP Iraq’s Role
The launch of the handbook is part of UNDP Iraq’s work under its Security Sector Reform and Rule of Law Programme, which aims to support the Government of Iraq in its efforts towards reconciliation, reform, and stability. The programme is made possible with funding from the United States Government.
Improved Institutional Ties
The development of the handbook has improved institutional ties and deepened collaboration between participating institutions, leading to:
- Increased application of joint investigative efforts
- Information exchange
- Successful prosecution of crimes
Recent Successes
According to recent cases, the Iraq Commission of Integrity recovered 100 billion Iraqi dinars and a substantial number of properties and high-value vehicles.
Expected Impact
The Financial Investigations Handbook is expected to become a critical asset in the country’s pursuit of accountability and the establishment of a robust financial system, enabling Iraq to:
- Safeguard its financial integrity
- Attract foreign investment
- Foster economic growth
With its release, Iraq sends a powerful message to its citizens and the international community that it is determined to root out corruption.
Regular Review and Updates**
The handbook will be reviewed and amended on a regular basis through a review methodology that seeks feedback from users, aiming to continuously update it during practical use.