Tag Archives | money laundering

Central Bank runs course on Combating Money Laundering

By John Lee. The Central Bank of Iraq (CBI) has organized a course on combating money laundering, terrorism financing, compliance and risk management. The course was held from 17th to 20th September at the Central Bank building, under the supervision of the banking studies center. Sixty-one employees from government, private banks and money transfer companies […]

Coalition Forces Kill ISIS Financial Facilitator

Coalition forces killed a key Islamic State of Iraq and Syria financial facilitator with an airstrike in Abu Kamal, Syria, June 16, Combined Joint Task Force Operation Inherent Resolve officials announced. Fawaz Muhammad Jubayr al-Rawi, a Syrian native and an experienced terrorist financial facilitator, moved millions of dollars for the terror organization’s attack and logistics […]

Iraq “Not Making Sufficient Progress” on Money Laundering

By John Lee. As part of its on-going review of compliance with anti-money-laundering (AML) and countering the financing of terrorism (CFT) standards, the Financial Action Task Force (FATF) has singled out Iraq as a “jurisdiction not making sufficient progress.” In a statement, the FATF has said: “Despite Iraq’s high-level political commitment to work with the FATF and MENAFATF […]

Private Banks Investigated for Money Laundering

By Amina al-Dahabi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A prominent economic official in the Iraqi government, who preferred to remain anonymous, said in an interview with Al-Monitor that out of the 33 private Iraqi banks operating in the country, 29 […]

Money Laundering Estimated “in the Billions”

By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Political and economic Iraqi circles confirm the presence of extensive money-laundering operations in Iraq. Weak monitoring systems and political conflicts of interest, however, prevent the exposure of these operations. These same […]