US Audit Slams Afghan Banks, Regulators' Cash Oversight

Law360, New York (July 21, 2011, 8:08 PM EDT) -- Poor cooperation from Afghanistan's banks and financial regulators has hampered efforts to secure billions of U.S. aid dollars flowing into the country, leading to a risk that aid money could be diverted to fund insurgents, according to a government report released Wednesday.

The U.S. Special Inspector General for Afghanistan Reconstruction (SIGAR)'s report also faulted U.S. agencies for not coordinating their efforts to monitor Afghanistan's financial sector, an initiative that has cost four U.S. agencies $20.7 million in 2010 alone.

“The United States has poured billions of...
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