National watchdogs will face more pressure to protect their financial systems from unlicensed or poorly regulated money remitters and exchanges increasingly targeted by the Islamic State (IS).
A counter-terrorism financing (CTF) conference in London this week heard efforts to disrupt sources of funding were bearing fruit but exchange houses in Iraq and nearby areas remain a significant risk.
US assistant secretary for terrorist financing Daniel Glaser said efforts by the Central Bank of Iraq (CBI) to wall off its systems from around 90 branches within IS-controlled territory should be replicated elsewhere.
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