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Politically Exposed Persons in Iraq: Risks and Mitigating Measures | ||
| AL-Qadisiya Journal For Law and Political Sciences | ||
| Article 30, Volume 16, Issue: 2 part 2, December 2025, Pages 643-658 PDF (632.54 K) | ||
| Document Type: Research Paper | ||
| DOI: 10.63677/jqlap.2025.167773.1521 | ||
| Author | ||
| Qaid Hadi Dahash* | ||
| Head the Department of Criminal Law at the College of Law, University of Baghdad | ||
| Abstract | ||
| The purpose of this Article is to examine politically exposed persons according to Controls of Due Diligence towards Senior Public Officials with Risks for Financial Institutions and Designated Non-Financial Businesses and Professions No. (2) of 2023 and shows risks posed by those persons. They are high-risk customers because of their influence and power, have the ability to access public funds, and may be more susceptible to corruption. Relations with those persons can pose reputational risks for both financial institutions and businesses. To counter corruption, money laundering activities and terrorist financing, it is necessary to identify and monitor those persons. As part of the global effort to combat corruption and money laundering activities, finical institutions are require to conduct enhanced scrutiny on politically exposed persons (hereinafter known as the ‘PEP’) because of the participation of PEPs in the illegal money laundering schemes and corruption acts. . PEPs can pose a higher risk because of their unique position of influence and their ability to access country accounts and funds. | ||
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