US Investigates Faction Economies in Iraq
An official revealed that U.S. envoy Tom Barrack provided Iraqi Prime Minister Ali Al-Zaydi with information about funding networks and economic activities linked to armed factions in Iraq. These include companies and financial movements used to circulate money and finance unofficial activities. Washington emphasized the need to address these networks by strengthening financial oversight and combating money laundering in order to support economic reforms and improve banking regulation efficiency, especially after Iraq was placed on the financial action task force's grey list and the increasing threats related to terrorist financing. Developments confirm that Iraq faces significant challenges in tracking unofficial sources of funding, with the government seeking to develop its financial system and enhance cooperation with international institutions to combat illicit activities.
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