Given that the Middle East is one of the main victims of terrorist groups and organizations, and the International Police and the European Police, in almost all of their reports, report that money laundering is one of the main ways of transferring money to groups such as ISIS, Al-Nusra, Boko Haram, PKK. Al-Shabab knows, etc., so the need to fight money laundering is increasing day by day.
Every day, firms and organizations are exposed to money laundering, the money earned from illegal deals. This is an international issue that threatens all societies and the financial system. This serves to finance terrorism, and even low flows can have a huge impact by helping serious terrorist crimes.
Money laundering is actually fighting these crimes. Its rules and regulations also explain what companies and organizations must do to fit into the new rules and regulations framework. Companies and organizations analyze risks by assessing and examining vulnerabilities. Risk assessment aims to identify the routes through which money laundering is likely to take place to finance terrorism. All employees must receive the necessary training. They should learn the latest updates to prevent the transfer of money for terrorism-related criminal acts. Organizational methods should be based on the transparency of customers and all matters related to transfer should be transparent.
Risk classification also needs to be done and they are divided into three categories: low, mild and high. Having a money transfer monitoring system is very important. This identifies deviations and allows financial institutions to report suspicious crimes and terrorism.
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