Regulatory Alerts2020-08-27
Added · Updated
Iraqi Law No. 39 of 2015 on Anti-Money Laundering and Counter-Terrorism Financing
The Presidency of the Republic of Iraq enacted Law No. 39 of 2015 to establish a comprehensive legal framework for combating money laundering and terrorism financing. The legislation creates the Anti-Money Laundering and Counter-Terrorism Financing Council and the dedicated Office to oversee policy, analyze suspicious transactions, and coordinate with international bodies. It imposes strict customer due diligence, record-keeping, and reporting obligations on financial institutions and designated non-financial businesses and professions to ensure regulatory compliance.