Iraq advances cooperation with FATF, says US official
Shafaq News- Washington
Iraq has accepted to work with an international financial monitoring body to address deficiencies in combating money laundering, corruption, and terrorism financing, a US administration official told Shafaq News on Friday, adding that Baghdad has already begun taking positive steps in that direction.
In a written statement obtained exclusively by Shafaq News through the US Embassy in Baghdad, the official said after almost a two-year process to review Iraq’s anti-money laundering and combating the financing of terrorism regime, “Iraq has agreed to cooperatively work with the FATF to address its most strategic AML/CFT deficiencies.”
The official noted that Iraq has already begun taking positive steps, and demonstrating political will to abide by FATF international standards. “We encourage Iraq to continue this positive momentum and quickly address its FATF action plan.”
Iraq made a “high-level political commitment” in June to work with FATF and the Middle East and North Africa Financial Action Task Force to strengthen its financial crime controls. Prime Minister Ali Al-Zaidi has also made economic reform, foreign investment, and anti-corruption central pillars of his program since taking office in May.
