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Republic of Iraq Federal Board of Supreme Audit Country Report ASOSAI 10 th research project “ AUDIT TO DETECT FRAUD AND CORRUPTION: EVALUATION OF THE FIGHT AGAINST CORRUPTION AND MONEY LAUNDERING” Third meeting Thailand/Bangkok/ 28-30 august 2013. Preface

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Republic of Iraq

Federal Board of Supreme Audit

Country Report

ASOSAI 10th research project

  • “AUDIT TO DETECT FRAUD AND CORRUPTION:

  • EVALUATION OF THE FIGHT AGAINST CORRUPTION AND MONEY LAUNDERING”

    Third meeting

    Thailand/Bangkok/ 28-30 august 2013


Preface

  • After developing the final questionnaire part III, which have adopted by all participants, we have disseminated the questionnaire to fill it out by affiliated specialists:

  • The results were as following:







Through the review of questionnaire’s results, we have reached to a set of conclusions, we enlist it as following:

  • The national strategic plan has designed in scientific and proper way to fits with the future view of the fighting against corruption. It has planned to implement this strategy with all required measures to achieve its goals, also it distinguished with transparency by publishing its contents to be reviewed by both private and public sectors and citizens.

  • The creation of such special agency came in accordance with putting the anti-corruption National Strategy into force and to follow up the implementation of that strategy. The agency has various responsibilities and functions like monitoring the implementation of the strategy and dissemination knowledge and awareness about the phenomenon of corruption.

  • Corruption offenses have classified through criminal law and there is a draft of combating corruption law in the stages of legislation to give this phenomenon a specific and distinct classification.

  • One of the most common types of corruption that needs to enact its own law is position or power abuse; this was associated with the absence of laws governing the financing of political parties.

  • One of the most important aspects of international cooperation in the fight against corruption is the ratification of the UNCAC and to do the peer review process, but the level of international cooperation is average in the aspects extradition and asset recovery.

  • At the current time, the phenomena of corruption are more clear for most citizens, this is due to promoting awareness of the citizens of this phenomenon, as well as trains public officials to face corruption cases, but that staff who faces such cases does not have the necessary competence to fight all kinds of corruption.




Through our review we have noticed the following results: reached to a set of conclusions, we enlist

  • The process of money laundering is criminal offense and there are a specific laws to combat money laundering, but the laws does not cover all aspects of money laundering. We have a national information unit works as a hub to collect, analyze and disseminate the information related with money laundering, and that unit represented by the Department of money laundering in the CBI (Central Bank of Iraq).

  • The Department of money laundering has several measures to combat money laundering;(identify the client and his updated information, collecting, processing and transferring money laundering information, apply temporary procedures to arbitrate the irregularities). This department has a variety of tasks such as (developing policies and improving of legislation and collecting, analysis and evaluation of data also verifying some cases).

  • The CPI’s department have developed regulations to be applied on all financial institutions, these institutions are obliged by law to carry out a range of measures that will cope with anti-money laundering law, such as : -

  • Comprehensive identification of client

  • Existence of an official to combat money laundering in the financial institutions

  • The prohibition of anonymous accounts

  • A program to monitor suspicious activities to the competent authorities.

  • D. Refusal of displaying the identity is of the most common type of suspicious transactions in the financial institutions, while considered the lack of consistency between the announcements of the client and documents the less thanthose types.

  • E. The citizens have not given the role to fight against money laundering through promoting transparency and accountability of the public sector as well as engaging community; otherwise they just play the role of complaints.

  • F. It perceived at the money laundering penalties as sanctions not suitable for the size of crime of that phenomenon.

  • G. Internal control systems are the foundation stone in the face of money laundering because of the effectiveness of internal control systems in achieving their objective which to protect the assets and compliance with laws and regulations.

  • H. The fight against money laundering has not achieved the required results, but the impact of these measures was positive, therefore we needs more efforts and works to reach our goals.


Thank you reached to a set of conclusions, we enlist


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