Iraq risks return to FATF Grey List
Iraq has returned to the grey list of the International Financial Action Task Force (FATF), which increases the likelihood of imposing additional restrictions on financial flows and foreign expenses. This classification results from Iraq's shortcomings in implementing anti-money laundering and counter-terrorism financing standards, which may lead to increased scrutiny of bank transfers, higher compliance costs, as well as worsening economic conditions, reduced investment flows, and increased demand for cash transactions. The Iraqi government emphasizes that it is monitoring efforts to develop the financial system to achieve compliance, while the international group continues to oversee the measures taken to prevent financial isolation.
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