VICTIM OF ILLEGAL ELECTRONIC MONEY TRANSFER CRIME UNDER IRAQI LAW

Abstract

Abstract: ECHNOLOGICAL DEVELOPMENT IN THE FIELD OF COMMUNICATIONS AND INFORMATION, AND THE USE OF ADVANCED TECHNOLOGIES IN BANKING OPERATIONS AND FINANCIAL TRANSFERS, HAS FACILITATED THE TRANSFER AND MOVEMENT OF MONEY BETWEEN BANK ACCOUNTS ELECTRONICALLY WITHOUT PHYSICALLY TRANSFERRING IT. THIS HAS FACILITATED MONEY TRANSFER OPERATIONS IN THE FIELDS OF BUSINESS, TRADE, AND THE ECONOMY, AND THE PROVISION OF SERVICES TO MERCHANTS AND INDIVIDUALS THROUGH VARIOUS ELECTRONIC SYSTEMS, UNTIL ELECTRONIC MONEY TRANSFER OPERATIONS HAVE BECOME THE MOST COMMON IN BANKING AND FINANCIAL TRANSACTIONS WHILE TRADITIONAL PAPER-BASED METHODS OF MONEY TRANSFER, SUCH AS DEPOSITS, CHECKS, MONEY ORDERS, AND BILL PAYMENTS, WERE ONCE COMMON, ELECTRONIC MONEY TRANSFERS HAVE NOW BECOME PREVALENT IN THE BANKING SECTOR. DESPITE THE NUMEROUS ADVANTAGES OF THIS DIGITAL TRANSFORMATION, ELECTRONIC MONEY TRANSFERS ALSO HAVE DRAWBACKS. THESE INCLUDE THE POTENTIAL FOR ILLICIT ELECTRONIC MONEY TRANSFERS THROUGH FRAUDULENT MEANS, EXPLOITING VULNERABILITIES IN ELECTRONIC FINANCIAL SYSTEMS, AND USING THESE FUNDS FOR THEFT, FINANCING CRIMINAL ACTIVITIES, MONEY LAUNDERING, TAX EVASION, AND TERRORISM FINANCING. THEREFORE, MOST INTERNATIONAL AND REGIONAL CRIMINAL LEGISLATION HAS ENACTED LAWS TO COMBAT THE CRIME OF ILLICIT ELECTRONIC MONEY TRANSFERS AND TAKEN PRECAUTIONARY MEASURES TO PREVENT THE USE OF ELECTRONIC FINANCIAL SYSTEMS IN SUCH TRANSACTIONS. THIS STUDY AIMS TO CLARIFY THE ROLE OF THE IRAQI LEGISLATURE IN COMBATING THIS CRIME AND TO HIGHLIGHT THE CRIMINAL LAWS THAT ADDRESS IT NATIONALLY, GIVEN ITS SERIOUS REPERCUSSIONS ON NATIONAL SECURITY, ECONOMIC SECURITY, AND FINANCIAL SYSTEMS AND INSTITUTIONS