US Treasury imposes sanctions on Iraq-based money exchange for having ties to the ISIS terrorist group
The US Treasury imposed sanctions on Wednesday on an Iraq-based money services business, Afaq Dubai, believed to be moving funds for Islamic State.
The Treasury’s Office of Foreign Assets Control added Afaq Dubai to its list of specially designated global terrorists for “assisting in, sponsoring or providing financial, material or technical support” for IS, the department said.
The Treasury action followed a Pentagon decision on October 11 targeting a financial group supporting IS, Reuters reported. The Treasury said the moves are part of a broader US effort to target a network of money services businesses that enable IS to carry out operations across the Middle East.