Al-Maamouri, Nadhim Jawad (2026) COMBATING MONEY LAUNDERING VIA DECENTRALIZED FINANCE (DEFI) UNDER IRAQI LEGISLATION: AN ANALYTICAL STUDY AGAINST FATF STANDARDS. International Journal of Business, Law and Political Science, 3 (6). ISSN 3032-1298

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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the most notable of which is that the current legal definitions of funds and financial institutions in Iraq are outdated, thereby limiting the ability of regulatory bodies to track virtual assets, Novelty: The study also identified procedural shortcomings in the handling of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.

Item Type:	Article
Uncontrolled Keywords:	Decentralised finance, Money laundering, Iraqi legislation, Smart contracts, FATF standards, Virtual assets, Digital criminal liability
Subjects:	H Social Sciences
Depositing User:	admin eprints
Date Deposited:	02 Jul 2026 03:41
Last Modified:	02 Jul 2026 03:41
URI:	http://eprints.umsida.ac.id/id/eprint/16731

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