Deutsche Bank: Suspected of facilitating funds to Daesh in Iraq | WHAT REALLY HAPPENED

Deutsche Bank: Suspected of facilitating funds to Daesh in Iraq

The Islamic State’s infamous rule over vast areas of Iraq during 2014 and 2016 not only led to a humanitarian crisis, but also left the country’s economy depleted. Its expansion in Iraq, marked by its control over vast areas of the country, most notably capturing the city of Mosul in June 2014, also allowed the organisation to seize over 121 bank branches according to the Central Bank, in what was described as one of the largest bank robberies the world has ever seen. Across its operations, the Islamic State (Daesh) stole a total of approximately $830 million.

Despite this, some banks, including Deutsche Bank and specifically its US branches, continued to allow money transfers to be sent to Iraq despite the group’s control over large parts of the country.

Leaked banking documents obtained by BuzzFeed News and shared with ICIJ, ARIJ and other media partners as part of the FinCEN Files investigation, reveal suspicious money transfers of at least $4 billion flagged by Deutsche Bank’s US branches and Bank of America, to a number of Iraqi banks between 15 June 2014 and 30 June 2015.

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