BAGHDAD — Iraqi auditors believe as much as $800 million in US dollars is being sent out of the country illegally each week, draining it of hard currency, according to a report by American inspectors released Tuesday.
The findings point to widespread money laundering and could focus further attention on oversight at Iraq’s central bank, which is at the heart of an investigation into alleged financial wrongdoing involving its former governor and other top officials.
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This is not a surprise. Iraq has been a cradle for corruption since the first day we went in there.