Amid growing concerns over corruption within Iraq’s Central Bank (CBI) and its handling of billions of dollars in transactions, US Senator Tim Scott raised serious questions about the New York Federal Reserve’s potential role in facilitating money laundering schemes in a letter. His letter follows reports that billions were funnelled to Iran-backed militias through Iraqi banks, as part of a broader scandal involving Iraq’s dollar auction system and other allegations of fraud. In an 2 October letter to Federal Reserve Chair Jerome Powell and New York Fed President John C. Williams, Scott critic…