90 percent of it comes from across the border. Parliament unveils a new strategy to limit currency smuggling
Member of the Parliamentary Security and Defense Committee, Representative Yasser Iskandar, confirmed today, Wednesday (May 1, 2024), that 90% of the counterfeit currency comes from across the border.
Iskandar said in an interview with "Baghdad Today", "Counterfeiting foreign currencies is one of the challenges that emerged remarkably in the Iraqi scene after 2003, led by mafias and multinational networks, some of which are for fraud and making money, and others carry an agenda of harming the economic reality."
Iskandar added, “The counterfeiting of currencies was not limited to foreign currencies, including the dollar, but rather extended to the dinar through the highest monetary denominations and in professional ways, which demonstrates the capabilities of the counterfeiting mafias,” pointing out that “90% of the counterfeit currencies come directly from across the border and are the most dangerous because of The development of the counterfeiting machine.
He pointed out that "the Interior Ministry's formations succeeded in reducing the counterfeiting of currencies by dismantling some networks, arresting their members, adopting a new strategy in monitoring and follow-up, and forming specialized teams to undertake the file of prosecuting those involved. He stressed that educating the community and clarifying the features of counterfeit currencies reduced the percentage of those who fall into their trap in... Markets and others, but they remain a source of limitation, especially with the attempts of these networks to continue counterfeiting crimes.”
Iraqis are experiencing widespread anxiety due to information about the spread of large quantities of counterfeit currency denominations of 25,000 Iraqi dinars, while social media has circulated video clips of people who have spotted large quantities of these newly printed counterfeit bills.
On Sunday (April 28, 2024), the National Security Service announced the dismantling of a money counterfeiting gang in Babil Governorate and the arrest of three others in Basra and Anbar Governorates.
A statement by the agency received by “Baghdad Today” stated, “The National Security Service in Babil Governorate was able, after field efforts and obtaining judicial approvals, to overthrow a two-person gang of counterfeiting US dollar denomination money and promoting it in a number of commercial stores.”
He added, "Our detachments collected complete information about these two individuals to suspect them and track them down until they were caught red-handed. They were seized with an amount of (20,700) counterfeit dollars that they intended to distribute in commercial activities."
He continued, "In Anbar and Basra governorates, our detachments were able to arrest three people for trading in counterfeit currency after luring them into an ambush, where about (8,000) counterfeit dollars were seized in their possession."
He pointed out that "the defendants and the seized items were referred to the competent judicial authorities to take the necessary measures in accordance with the law." link
