With New Laws and Some Help, Iraq Turned Around Anti-Money-Laundering Problems
Seven years ago, Iraq’s financial system was beset by problems. An estimated $800 million in U.S. currency was illegally flowing out of Iraq every week, Iraqi auditors told American investigators at the time. And the central bank governor was dismissed after corruption had become institutionalized within the country’s government and political system. Since then, however, […]Samuel Rubenfeld writes for The Wall Street Journal:
Seven years ago, Iraq’s financial system was beset by problems.
An estimated $800 million in U.S. currency was illegally flowing out of Iraq every week, Iraqi auditors told American investigators at the time. And the central bank governor was dismissed after corruption had become institutionalized within the country’s government and political system.
Since then, however, the country’s efforts to combat illicit finance have improved, and international watchdogs have taken notice.
