The College of Administration and Economics at the University of Baghdad, in cooperation with the Money Laundering and Combating Terrorism in Iraq Office, has organized a seminar entitled (Local and International Requirements for Combating Money Laundering and the Financing of Terrorism in Iraq) presented by the Advisor of the Council for Combating Money Laundering and the Financing of Terrorism in Iraq Dr. Ali Mohammed Jawad and the official of the Research and Studies Department Mr. Muhannad Thaer Abdul Wahab. This event was attended by the assistant dean for administrative affairs Dr. Omar al-Ashari, heads of scientific departments and professors of the college, several employees and undergraduate and postgraduate students.
Dr. Ali Mohammed at first defined this term that refers to the process of concealing the origin of money, obtained from illicit activities through certain procedures followed by the Iraqi state and what is the role of the citizen in the process of money laundering and defines money laundering as the process of converting illicit funds into legitimate funds by introducing them into the economic and commercial fields and using them in the financing of terrorism where they produce economic, political and social effects. He also insisted on the need to introduce the original crimes that result in illicit financial proceeds, namely money laundering that is financing terrorism in order to enhance the awareness of the community about the risks resulting from this crime and to urge graduate students to write research in this topic and the best ways that can be used for developing proposals to address the challenges diagnosed by the concerned authorities in combating such crimes and the need to report then by means of official correspondence.
