BAGHDAD/ Aswat al-Iraq: Iraq stressed having a number of reforms to counter money laundering, including the amendment of its law, while US Treasury expressed desire to assist Iraq enhancing its financial and banking systems and the ways to control money laundering trafficking connected with corruption, crime and terrorism.

In a meeting between Cabinet Secretary General Ali Muhsin Ismael and US Treasury Deputy Minister David Cohen, both sides discussed means to support the financial and banking systems in the country.

US Inspector of Iraqi Reconstruction Projects Stewart Bowen disclosed on 1 November, 2012 that "$1 billion is moving out of Iraq without proper and legal documents", which decreased foreign currency inside the country, "thus increasing the state of money laundering".