ARTICLE AD BOX
💰 Iraq Recovers Billions: Hidden Assets, Corruption Funds, and Global Crackdown! 🌐🕵️♂️
🔥 Breaking via INA: Iraq’s government confirms major success in recovering stolen assets abroad!
Financial advisor Mazhar Mohammed Salih lays out a 2-track plan to reclaim both Saddam-era assets and post-2003 corruption funds. Let’s break it down:
🇮🇶 The Two Tracks of Asset Recovery:
1️⃣ Former Regime Funds (Pre-2003):
Tracked under UN Resolution 1483.
Many assets were transferred to the Development Fund for Iraq (2003-2004).
Diplomatic channels still active to recover more.
2️⃣ Post-2003 Corruption Funds:
Pursued under the UN Convention Against Corruption (UNCAC).
Active international coordination via treaties, judicial cooperation, and programs like StAR (Stolen Asset Recovery Initiative).
🛡️ Legal Firepower & Government Action:
The Iraqi Asset Recovery Fund was strengthened by law in 2019.
Now offers rewards for informants and opens global lawsuits against corrupt individuals.
The fund is backed by a powerful board:
Includes the Integrity Commission, CBI, Foreign Ministry, Finance, Justice, Trade, Oil, Federal Audit, and Security Agencies.
📊 Funds recovered are deposited into accounts controlled by the Ministry of Finance and can be distributed in up to 4 installments within 6 months.
🧠 Challenges Still Ahead:
Bank secrecy, tax havens, and hidden beneficiaries complicate the process.
Many legal jurisdictions and evidence systems differ by country.
Some recoveries involve settlements — controversial, but still bring funds home.
📍 Even real estate and Iraqi-owned buildings abroad are now being tracked and inventoried.
🗣️ Mazhar Saleh:
“This is not easy, but it’s working. We are seeing remarkable success — and more is coming.” 💪
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