US Treasury Sanctions Iraqi Bank and Owner for Terrorist Financing and IRGC Support
TL;DR
The U.S. Department of the Treasury has taken action to protect the Iraqi financial system from abuse by identifying Al-Huda Bank as a primary money laundering concern and proposing a rule to sever its access to the U.S. financial system. The Office of Foreign Assets Control (OFAC) has also imposed sanctions on the bank's owner for supporting terrorist groups. These measures aim to prevent the bank from serving as a conduit for terrorist financing by Iran and its proxy groups, ultimately safeguarding the Iraqi and international financial systems from abuse.
Topics:worldinternational-relations#financial-system#international-relations#iraq#sanctions#terrorist-financing#us-treasury
- U.S Treasury
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- US State Dept Sanctions Iraqi Bank, Blacklists Owner Mirage News
- Senior US Treasury official travels to Iraq as Washington takes action against bank ThePrint
- US Treasury identifies Iraqi bank for money laundering, sanctions owner for IRGC support Rudaw Media Network
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