عربية – DW
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Source: عربية – DW
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Reports reveal that money laundering is widely used in Iraq to fund illegal projects, through the purchase of luxury real estate, high-end cars, valuable gifts, or by manipulating dowries and social obligations of high financial value. The investigation indicates that corruption is deeply rooted in interconnected networks linking officials and politicians, where projects are approved quickly and at inflated or fictitious costs, with funds stored or smuggled abroad via organized networks. A significant portion of stolen money is stored in homes or converted into gold, then used to buy properties and investments that appear legitimate, thereby reinforcing a parallel corrupt system. The investigation’s findings show that the money laundering system extends beyond individuals, intertwining with official institutions and employing methods such as inflated dowries, fake projects, and complex techniques to smuggle and launder money. Meanwhile, legal and regulatory frameworks remain absent or ineffective in tackling this widespread phenomenon, which threatens the Iraqi economy and fails to combat pervasive corruption.
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