CBI: Acceptance of Iraq's candidacy in the Egmont Group of Financial Intelligence Units

  • 31-01-2023, 20:16
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    The Central Bank of Iraq (CBI) announced on Tuesday, the acceptance of the nomination of Iraq in the Egmont Group for Financial Intelligence Units.

    CBI stated, in a statement received by the Iraqi News Agency (INA), “The efforts made by Iraq, represented by Anti-money laundering (AML) and Terrorist Financing Office in CBI, culminated in obtaining approval to nominate the office to join the Egmont membership of the Financial Investigation Units after the approval of the heads of the units financial investigations during the group's meetings to be held next July.

    The statement added, "The report of the field visit to Iraq that was carried out by representatives of the sponsoring states was discussed during the meeting of the Working Group on Membership, Support and Commitment MSCWG held in Senegal on 1/31/2023, and the group concluded after presenting the report by the representatives of the sponsoring countries to nominate the office for membership the Egmont Group with full membership during the July 2023 meetings."

    It noted, "The Egmont Group includes 167 countries so far and is working to facilitate the exchange of information on criminal proceeds, money laundering and terrorist financing at the international level by providing the office with a secure communications network with countries of the world, which contributes to following up the movement of funds internationally and strengthening financial investigation procedures to lead to financial operations refund of funds and assets."

    It stated, "The support provided by the group includes expanding and organizing international cooperation in the exchange of financial intelligence information, increasing the effectiveness of financial information units by providing training and exchanging employees to improve the expertise and capabilities of employees, and enhancing secure communication between units through the application of technology via the Egmont network safe".