Tracing Connections from an Iraqi Businessman to Sanctions Evasion by Saddam Hussein
This investigation highlights the efficacy of matching publicly released government documents with commercial records to track a known Saddam associate and smuggler who continues to grow business operations across the region.
By mapping this familial network with links to Saddam and past sanctions evasion schemes, clients can better understand how to manage and ultimately reduce their exposure to risky networks.
Snippets From The Download:
Is Iraq sanctioned?
On Aug. 6, 1990, four days after Iraq invaded Kuwait, the UN placed a near total embargo on Iraq—exceptions were made for medical supplies and humanitarian foodstuffs.
Where does Al-Handal family’s influence come from?
In post-2003 Iraq, open-source information and corporate records suggest that the influence of the Al-Handal family comes from its role in Iraq’s banking industry. Al-Handal International Group publicizes its role in establishing and controlling Ashour International Bank for Investment.
Was Saddam Hussein close to Al-Handal family?
The Al-Handal family was “closely tied to Saddam’s family and to the IIS [Iraqi Intelligence Services],” according to a public CIA report from 2004 on illicit finance and procurement. Additionally, Al-Handal General Trading Company “received preferential treatment in the issuance of Iraqi procurement tenders. The head of the firm, Wadi Al-Handal, has established several subsidiary companies to facilitate acquisition of sensitive goods for Iraq.” The process of procuring illicit goods while skirting UN monitoring was carried out through a government bidding process overseen by the Iraqi Intelligence Services (IIS) and the Military Industrialization Commission (MIC).
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