Iraq has made significant strides in combating money laundering and terrorism financing at both the Arab and international levels.
According to the official newspaper, Hussein Al-Muqram, a representative of the Anti-Money Laundering and Terrorism Financing Office at the Central Bank of Iraq, stated:
> “This progress is reflected in achieving good compliance rates in the mutual evaluation conducted within the framework of the Middle East and North Africa Financial Action Task Force (MENAFATF).”
He added that the National Risk Assessment Team continues its efforts to reach more advanced levels by implementing national action plans and regularly evaluating performance.
Al-Muqram explained that the team began updating the National Risk Assessment Report last year, carrying out key phases that included:
- Collecting and analyzing data from various sectors
- Identifying legislative and operational weaknesses
- Assessing threats and risks at the national level
- Determining overall risk levels across sectors
- Prioritizing strategies to mitigate those risks
He emphasized that the next phase of development for the Anti-Money Laundering and Terrorism Financing Office includes:
- Enhancing analytical and technical capabilities using advanced data analysis and artificial intelligence tools
- Expanding international and regional cooperation for sharing expertise and information
- Improving coordination with judicial, security, and regulatory bodies
- Organizing advanced training programs for national staff in financial investigation and analysis
- Continuing implementation of the national strategy in collaboration with all partners
This marks a notable shift toward more tech-driven and globally aligned financial oversight in Iraq.