Friday, June 28, 2024
Cyber Resilience Controls For The Financial And Banking Sector In Iraq, 28 JUNE
June 26, 2024 diamonds: Cyber resilience controls for the financial and banking sector in Iraq .. For more, click here https://cbi.iq/static/uploads/up/file-171939700326129.pdf
https://cbi.iq/news/view/2607
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[Approximate and incomplete translation of first two pages of 48 page
https://cbi.iq/static/uploads/up/file-171939700326129.pdf ]
All banks
All electronic payment service providers
Cyber Resilience Controls for the Financial and Banking Sector in Iraq
Based on the main role of the Central Bank of Iraq in regulating, developing and advancing the financial and banking sector
With its various digital activities, technical and information operations, and its continuous endeavor to enhance cybersecurity and data protection and information related to financial and banking systems”
and to develop a standard framework and controls for developing resilience capabilities Cyber and levels of readiness to confront and respond to the effects resulting from risks, threats and cyber attacks “effectively”
and enhancing the flexibility of financial and banking institutions to cope with technical and information security disruptions Cyber crises, withstand these crises and recover from them in appropriate record periods, and ensure continuity of business and operations and banking activities.
In order to provide a comprehensive framework for organizing, developing and developing this sector in a way that is compatible with modern technical challenges and threats Increasing cybersecurity”
We attach a link to the document on cyber resilience controls for the financial and banking sector in Iraq Commitment to them in order to enhance the cyber resilience of your organizations.
We consider the controls, guidelines, procedures and measures contained in this document an important reference and basis for protecting infrastructure Technology, financial and banking systems” and contributes to enhancing your institutions’ readiness and flexibility in facing technical challenges Security and cyber threats, adapting to them, predicting their risks, containing them, and recovering from them quickly. And guarantee capacity To continue performing tasks and functions and providing services on an ongoing basis.
.. with respect.
Attachments:
- Cyber resilience controls for the financial and banking sector in Iraq in Arabic and English.
https://cbi.iq/static/uploads/up/file-171939700326129.pd
Modify instructions
June 27, 2024
Modify instructions
diamonds: Cancellation of Paragraph ( 5 / d ) of the instructions and standards for circulation and replacement of banknotes, and the counting and sorting mechanisms..For more click here
https://cbi.iq/static/uploads/up/file-1719486275814.pdf
https://cbi.iq/news/view/2608
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[approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-1719486275814.pdf]
All approved banks
M/ Instructions and standards for circulation and exchange of banknotes, and mechanisms for counting and sorting
In addition to our Circular No. (34/4/9) dated 1/10/2024 - we would like to inform you of the cancellation of paragraph (5/d) of the instructions and standards.
Circulation and exchange of banknotes and counting and sorting mechanisms included (collecting the amount of (250) dinars on bank deposits About the counting and sorting operations for each bundle) and this will be implemented starting from the date of 7/1/2024.
with respect.
Joe Biden just experienced a full-blown coup. Coffee with MarkZ and the ...
US Finalises Measure Against Iraq-based Bank, 28 June
US Finalises Measure Against Iraq-based Bank
FinCEN Issues Final Rule Against Iraq-Based Al-Huda Bank to Combat Terrorist Financing Today, June 26, 2012, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury issued a final rule in accordance with section 311 of the USA PATRIOT Act (section 311). This rule prohibits domestic financial institutions and agencies from opening or maintaining a correspondent account for or on behalf of Al-Huda Bank, an Iraqi bank that serves as
Under Secretary of the Depository for Psychological oppression and Monetary Insight Brian E. Nelson said:
“We remain focused on preventing Iran and its proxies from utilizing these gaps to facilitate their destabilizing terrorist activities, even as Iraq continues to make progress in its efforts to address illicit finance-related vulnerabilities in its financial system.”
“The present last rule cuts off this critical channel for tax evasion and psychological militant funding, guaranteeing both the honesty of the Iraqi and global monetary frameworks as well as the proceeded with improvement of genuine business and exchange.”
Al-Huda Bank was identified by FinCEN as a foreign financial institution of primary concern for money laundering on January 31, 2024, in a finding and notice of proposed rulemaking (NPRM). Al-Huda Bank supported Iran’s Islamic Revolutionary Guard Corps (IRGC) and IRGC-Quds Force, as well as Iran-aligned Iraqi militias Kata’ib Hizballah and Asa’ib Ahl al-Haq, for years by taking advantage of its access to U.S. dollars, according to the finding.
Besides, the director of Al-Huda Bank is complicit in Al-Huda Bank’s unlawful monetary exercises, including illegal tax avoidance through front organizations that disguise the real essence of and parties engaged with illegal exchanges, eventually empowering the supporting of psychological oppression.
FinCEN is making this segment 311 move to safeguard the US monetary framework from Al-Huda Bank’s illegal action. Covered financial institutions are now required to take reasonable steps not to process transactions for the correspondent account of a foreign banking institution in the United States if such a transaction involves Al-Huda Bank, preventing Al-Huda Bank from having indirect access to the United States financial system as a result of this final rule. Covered financial institutions are also prohibited from opening or maintaining correspondent accounts for or on behalf of Al-Huda Bank.
In addition, covered financial institutions are required by this final rule to perform additional due diligence on their foreign correspondent accounts that is reasonably designed to prevent their use to process Al-Huda Bank-related transactions.
"RV UPDATE" BY MIKE BARA, 28 JUNE
MIKE BARA
The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.
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Word from a source just received:
He got a call from a high banking source at a major bank in the south. “You’ve been bugging me about this for ten years. Well, congratulations buddy. Your dream is about to come true.”
SOURCE: “What do you mean?”
BANKER: “We just got a letter from headquarters informing us to get ready because ‘The Iraqi Dinar is revaluing extremely soon.’”
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The situation as I understand it: This should have gone in April. That was Plan A. The USA stopped it. The window for Plan B opens tomorrow at "Sundown" and is a week long. There is no Plan C.
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The "Bondholder" is once again certain he gets paid out on Tuesday, but he is returning to his city of origin tomorrow. He HAS to be in this location to get his payout. This means the payout COULD come sooner than Tuesday. More as I get it...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...