Tag Archives | money laundering

Why Iraq's Dinar is Trading Below Official Rate

By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Why Iraq's dinar is trading below official dollar rate amid new restrictions A top US official visited Iraqi officials last week to discuss countering illicit finance and strengthening Iraq's […]

KRG Minister discusses Financial Threats in Iraq and Kurdistan

On Tuesday, Rebar Ahmad, the Kurdistan Regional Government's Minister of Interior, welcomed the KRG's Financial Action Taskforce for money laundering and terrorist financing. The taskforce includes representatives from 15 other organisations in the region and operates in accordance with international standards. Minister Ahmad praised the taskforce's efforts and emphasised the government's transparent policies for combating […]

Iraq's New PM vows to Clean Up the Country

From The Economist. Iraq's new prime minister vows to clean up the country The puzzle for Iraq's kleptocrats was always how to spirit their stolen billions out of the country. Foreign banks have been wary of accepting large transfers from Baghdad. Taking piles of cash out by land is risky; Kurds closely watch the frontier […]

US Ambassador discusses Money Laundering, Terror Financing

By John Lee. The Governor of the Central Bank of Iraq (CBI), Mustafa Ghaleb Mokhif, received the US Ambassador to Iraq, Alina Romanowski and her accompanying delegation on Monday. He reviewed the efforts of the CBI to support development through monetary policy tools and the direct impact of its initiatives on the real sector progress, […]

EU drops Iraq from List of High-Risk Countries for Money Laundering

By John Lee. The European Union's Ambassador to Iraq has announced that Iraq has been removed from its list of countries deemed to carry a high risk of money laundering. Following a meeting with Prime Minister Mustafa al-Kadhimi in Baghdad on Sunday, Ville Varjola tweeted: "Bringing the good news today to HE Prime Minister Mustafa […]

New Program to Counteract Financial Crime in Iraq

New program to help counteract serious financial crimes in Iraq The United Nations Development Programme (UNDP) in Iraq, in partnership with the United States Government and the Supreme Judicial Council of Iraq has launched a multi-year training initiative today, to strengthen and improve complex organized and financial crime investigations in Iraq. The training program, called […]

UK Removes Iraq from List of "High-Risk Third Countries"

By John Lee. The United Kingdom has removed Iraq from the list of high-risk third countries for the purposes of money laundering legislation. The new listing -- "Schedule 3ZA" -- does not include Iraq.  This schedule replaces the list in Commission Delegated Regulation (EU) 2016/1675 of 14th July 2016 by identifying high-risk third countries with […]

Call for EU to Remove Iraq from List of High-Risk Countries

Foreign Minister Renews Call for European Commission to Remove Iraq from List of High-risk Countries in Terrorist Financing and Money Laundering Foreign Minister Mr. Fuad Hussein has met with Mr. Josep Borrell, the High Representative for Foreign Affairs and Security Policy in the European Union, at the European Commission headquarters in Brussels. Minister Fuad Hussein […]