Iraq is a step closure to identifying the amount of money deposited in Swiss banks by the former regime and recovering it, the President of the Federal Commission of Integrity (Nazaha) Judge Alaa Jawad Al-Saadi said yesterday. The official said Iraq has succeeded in removing international banking secrecy clauses off of smuggled funds in Swiss bank in coordination with the Swiss Treasury. This comes as part of a campaign launched by Prime Minister Mustafa Al-Kadhimi to recover the smuggled funds, and to stop the country’s wealth being drained through various companies and people. Smuggled funds are divided into frozen and unfrozen funds believed to be stored mainly in Switzerland and Scandinavia by members of the former regime of the late President Saddam Hussein as well as money smuggled through corrupt … Continue reading Iraq has banking secrecy clause lifted from smuggled money in Switzerland