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NEWS: Iraq has a ‘limited understanding’ of complex money laundering, says FATF

Te Kadhmain shrines at Al-Kadhimiya Mosque in Iraq. Picture: Wikimedia Commons

BY PAUL O’DONOGHUE, Senior Correspondent

IRAQ’S AML system suffers from major gaps, with authorities demonstrating only a “limited understanding” of complex money laundering schemes.

That is according to a new report by the Financial Action Task Force’s (FATF) Middle East and North Africa arm (MENAFATF).

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