OFAC sanctions Iraqi money services business over ISIS support

OFAC has designated Afaq Dubai, an Iraq-based money services business (MSB), as a Specially Designated Global Terrorist pursuant to Executive Order 13224 (US asset freeze) for “moving money for [ISIS]”. The US Treasury press release says “[c]ontrary to what the name may imply, this MSB is located in Iraq and does not have any branches…

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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