Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Financial Services

US Treasury official says Iraq must act to avoid further action on banks

By Timour Azhari

Iraq’s central bank must address continued risks of the misuse of dollars at Iraqi commercial banks to avoid new punitive measures targeting the country’s financial sector, a top U.S. Treasury official said, citing fraud, money laundering and Iran sanctions evasion.

In July, the United States barred 14 Iraqi banks from conducting dollar transactions as part of a wider crackdown on the illicit use of dollars.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!