The Iraqi Private Banks League, in cooperation with Smart Bit and in partnership with the American Management Center (AMC), organized a specialized training course titled “Anti-Money Laundering and Terrorist Financing – The Risk-Based Approach,” with the participation of a number of Iraqi banking professionals.

The course aims to strengthen banking employees’ capabilities in applying the risk-based approach and enhance their efficiency in addressing money laundering and terrorist financing risks, in line with local and international requirements and standards.

The training covered a range of specialized topics, including risk assessment; customer due diligence (CDD and EDD) levels; identifying suspicious indicators and patterns (Red Flags); preparing institutional risk assessments for banks; and strengthening integration among compliance, risk management, audit, and operations functions.

The course forms part of the Iraqi Private Banks League’s efforts to develop banking expertise and strengthen banks’ capabilities in compliance and combating financial crimes, contributing to greater efficiency across Iraq’s banking sector and supporting its alignment with international standards.