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