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Nadhim Jawad Al-Maamouri
University of Babylon, Iraq
Economics, Econometrics & Finance Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences

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COMBATING MONEY LAUNDERING VIA DECENTRALIZED FINANCE (DEFI) UNDER IRAQI LEGISLATION: AN ANALYTICAL STUDY AGAINST FATF STANDARDS Nadhim Jawad Al-Maamouri
International Journal of Business, Law and Political Science Vol. 3 No. 6 (2026): International Journal of Business, Law and Political Science
Publisher : PT. Antis International Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijblps.v3i6.491

Abstract

Objective: This study examines the legal and procedural challenges posed by decentralised finance (DeFi) technologies to the anti-money laundering framework in Iraq, The research problem lies in the clear regulatory gap resulting from the decentralised nature of these platforms, which relies on smart contract technology and blockchain to eliminate the need for traditional financial intermediaries; this decentralised nature hinders the ability of Iraq’s Anti-Money Laundering and Counter-Terrorist Financing Law No. 39 of 2015 to control cryptocurrency flows and establish criminal liability in this context,، Method: The study adopted a comparative analytical approach, analysing the text of Iraqi legislation and comparing it with the operating mechanisms of decentralised finance platforms, whilst also examining the extent to which it complies with the updated international standards issued by the Financial Action Task Force (FATF) In particular, with regard to Recommendation No. 15, Results: the study reached a number of important conclusions, the most notable of which is that the current legal definitions of funds and financial institutions in Iraq are outdated, thereby limiting the ability of regulatory bodies to track virtual assets, Novelty: The study also identified procedural shortcomings in the handling of encrypted digital evidence and recommended urgent legislative reforms, including the regulation and oversight of Virtual Asset Service Providers (VASPs) through the establishment of a dedicated institutional framework.
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