Iraq’s nomination to Egmont Group accepted
The Central Bank of Iraq. Photo: Iraqi News Agency
Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) announced on Tuesday the acceptance of Iraq’s nomination to the Egmont Group of Financial Intelligence Units, the Iraqi News Agency (INA) reported.
The CBI mentioned in a statement that the efforts of the Anti-Money Laundering and Countering Financing of Terrorism Office (AML/CFT) resulted in approving the nomination of the office to join the Egmont Group of Financial Investigation Units, according to INA.
Iraq’s field visit carried out by representatives of the sponsoring countries was discussed during the meeting of the Membership, Support, and Compliance Working Group (MSCWG) held in Senegal on Tuesday, the statement explained.
After reviewing the results of the field visit in Iraq during the meeting, the representatives of the sponsoring countries agreed to nominate Iraq’s AML/CFT Office to the membership of the Egmont Group, the statement elaborated.
The Iraqi AML/CFT Office will have full membership during the meetings that will be held in July 2023.
The Egmont Group of Financial Intelligence Units is an international organization that facilitates cooperation and intelligence sharing between national financial intelligence units to investigate and prevent money laundering and terrorist financing.
The Egmont Group has 167 financial intelligence units, and is aware of 47 additional jurisdictions that are part of the AML/CFT offices global network, and whose financial intelligence units could join if they meet the Egmont Group’s membership criteria.