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Two experts call for the activation of anti-money laundering laws

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Two experts call for the activation of anti-money laundering laws

On March 27, 2022

The Independent/--
Two experts in economic affairs stressed the inevitability of protecting and preserving the tracks of the economy, and keeping them away from all forms of manipulation that disturb performance.

Which requires

activating laws related to combating money laundering crimes and

controlling border crossings in general and

activating government and popular intelligence efforts to monitor illegal acts, through the establishment of warning sensors.

The black economy, in short, means a set of commercial transactions in which all tax laws and commercial legislation are avoided, and

it is part of the illegal economic activity that does not fall within the GDP figures and is

practiced by a group of individuals, entities or institutions away from the laws and control of the state.

money laundering

Academic Dr. Abdul Karim Al-Issawi said, “It is necessary to pay close attention to experts in many disciplines in the reality of the growth of the hidden black economy, and

for the assessment and analysis processes to succeed, they must be subject to a criterion that the black economy contributes to creating added value, and that

one of the most important treatments of the black economy is Limiting its development is reforming monetary and fiscal policy and reducing the deficit in the federal budget,

while at the same time ensuring that its provisions are transparent in public spending, as well as limiting waste and waste of state resources and activating special laws to combat money laundering by getting to know the customer and the nature of the work he performs..

He stressed, "the need to address these trends as well as to expand the work carried out by the Central Statistical Organization in preparing the necessary studies and data for specialists to determine the size of the black economy, and

it is necessary for the government to control border crossings and close informal ones, and

among other treatments to limit the black economy is activating government intelligence efforts." And the people to monitor illegal actions, and through the establishment of alarm sensors.”

The electronic government

Al-Issawi stressed “the inevitability of accelerating the establishment of the electronic government to monitor the real income of the Iraqi citizen and what its sources are to subject it to the tax to increase the marginal benefit of the national income.

It does not target profit for the rules of the Iraqi balance of payments, and to increase the tax rate that is imposed on agricultural lands owned by people when their gender changes into plots distributed among citizens.

super rich

Al-Issawi continued: “To reduce the phenomenon of the black economy, it is necessary to prevent the trading of the legacy of the Iraqi state locally and internationally from public sector properties and the belongings of the former regime that were seized in important state departments and presidential palaces, and to prevent the birth of mafias specialized in theft and trade inside and outside the country.”

economic activities

In a related context, Academic Dr. Amr Hisham said, “All economic and commercial activities that are not subject to government laws and regulations, mainly tax evasion, are an integral part of the black economy or the so-called shadow economy, and these illegal practices aim at large illegal profit, as well.

Money laundering to gain illegal money is a form of black economy.”

Hisham continued: “The smuggling of oil and others, both locally and abroad, are one of the doors to the black economy, so it is necessary to activate deterrent laws issued in this field, and the lesson is in the application and lack of complacency for known reasons.”

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