The Republic of Iraq joined the Egmont Group of Financial Intelligence Units

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The efforts exerted by the Republic of Iraq and under the direct supervision of the honorable Prime Minister, the honorable President of the Supreme Judicial Council, and the honorable Governor of the Central Bank culminated in the acceptance of the membership of the Office of Combating Money Laundering and Terrorist Financing in the (EGMONT) group concerned with the exchange of information between the Financial Investigation Units for combating money laundering Funds and financing terrorism, since with the accession of the Republic of Iraq, the number of member states has reached 170.

Where the member states voted during the general meeting of Group No. (29) on the accession of Iraq, which was attended by the Director General of the Office of Combating Money Laundering and Terrorist Financing in the United Arab Emirates / Abu Dhabi on July 5 / 2023

 

The approval came after the request submitted by Iraq earlier, as a result of which the legislative and operational structure in which the office operates was studied and a field visit was conducted. The report of the field visit to the Republic of Iraq that was carried out by representatives of the sponsoring countries was discussed during the meeting of the Working Group on Membership, Support and Commitment MSCWG held In Senegal on January 31, 2023, which recommended the adoption of the report.

 

It is worth noting that the Egmont Group provides support to its member countries through:

• Enhancing secure communication between FIUs, and securing communication between them through the application of modern technology through the secure Egmont website (ESW).
• Expanding the scope of international cooperation in the field of exchanging information related to combating money laundering, terrorist financing and predicate offences.
• Activating the role of the financial investigation units by providing training and promoting exchange between individuals to improve the expertise and capabilities of the employees of the financial investigation units.
• Enhancing coordination and operational support among the member FIUs of the Egmont Group.
• Enhancing the independence of financial investigation units.
• Encouraging the establishment of financial investigation units in cooperation with countries that already have a national system to combat money laundering and terrorist financing, or whose national system to combat money laundering and terrorist financing is in the process of development.