The college of law at the University of Baghdad discussed a master’s thesis in the criminal law of the student (Hawra Qasim Mohammed), marked with(provisions of suspicious transactions in the Iraqi anti-money laundering and terrorist financing law no. (39) for the year 2015), on Sunday, corresponding to 8/9/2024 on the model courtroom at the college.
The thesis aims to explain the nature of suspicious transactions, their characteristics, the legal nature of reporting them, as well as identifying indicators of suspicion, which in turn helps financial and non-financial institutions to identify these transactions, which also helps them in strengthening the mechanisms and legal means of reporting suspicious transactions.
The thesis included three chapters, the first of which dealt with the conceptual framework of suspicious transactions, the second chapter dealt with the role of financial and non-financial institutions in detecting suspicious transactions, and the third chapter dealt with criminal liability arising from violation of the provisions of reporting suspicious transactions.
The thesis came out with several recommendations, the most important of which is to propose to the Iraqi legislator to amend the text of Article (12/ fifth A) of the law on combating money laundering and terrorist financing, “as it provides for immediate notification to the Office of any operation suspected of involving money laundering or terrorist financing, whether this operation has been carried out or not” as the text is to immediately inform the Office of any operation suspected of involving money laundering or terrorist financing according to the Notification Form prepared by the office for this purpose, it proposes to the Iraqi legislator to amend Article (9/first B) of the law on combating money laundering and terrorist financing related to the functions of the anti-money laundering and terrorist financing, providing that the competence of the office to analyze reports and information within the period determined by the office, considering that The Iraqi legislator made the task of receiving and analyzing the reports the responsibility of the control office, but he did not specify the period, but he called it the phrase, so it was better to limit the period in order to prevent prolongation and extension by the office.
