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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Dealers monitor currency counterfeiting activity in Iraq..and the authorities arrest counterfeiting

    Rocky
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    Dealers monitor currency counterfeiting activity in Iraq..and the authorities arrest counterfeiting Empty Dealers monitor currency counterfeiting activity in Iraq..and the authorities arrest counterfeiting

    Post by Rocky Wed 22 Feb 2023, 3:29 pm

    [size=38]Dealers monitor currency counterfeiting activity in Iraq..and the authorities arrest counterfeiting gangs[/size]


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    February 22, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk: Karbala Criminal Court issued six-year prison sentences against those involved in the promotion and purchase of counterfeit currency, amid news and observations about the spread of counterfeit currency circulation in Iraq, both local and hard.
    The counterfeiting of cash currency and its circulation in the Iraqi markets is widespread, which puts the Iraqi economy in front of an imminent danger, while the Central Bank issued clarifications showing the security signs of each currency, in an attempt to spread awareness among the citizen in discrimination.
    The activity of counterfeiting the currency appears after every wave of price hikes, but observers consider that the absence of political stability accompanied by elite and societal corruption is one of the reasons for this counterfeiting.
    The economic expert, Salam Sumaisem, considered that one of the most severe means of economic destruction and wars of survival is counterfeiting money and flooding the country with it, noting that wars of counterfeiting currency are destroying values.
    The observer of Iraqi affairs, Nizar al-Habib, accused parties of spreading rumors about forging cash denominations of the Iraqi currency with the aim of striking the Iraqi dinar and undermining people's confidence.
    And eyewitnesses quoted news, according to merchants, that there are millions of dinars of various counterfeit currencies in a professional forgery that penetrates the Iraqi markets.
    In Erbil, Erbil police spokesman Hooker Aziz said that the police detachments were able to arrest a person who brought counterfeit money and tried to sell it in the markets of the city of Erbil.
    Legal expert Ali Al-Tamimi says that Article 280 of the Iraqi Penal Code punishes with imprisonment for a period not exceeding 10 years for anyone who imitates or forges, whether by himself or through others, a coin of gold or silver.
    Article 283 punishes with imprisonment and a fine, or one of them, whoever promotes or re-deals with counterfeit currency knowing that it is counterfeit. As for the penalty for whoever takes in good faith counterfeit currency with knowledge of it and then deals with it, his penalty is imprisonment according to Article 284 of the Iraqi Penal Code. Imitation of currency means making Something false looks like something true.
    The counterfeiting of the Iraqi currency and its spread in the local markets leads to huge losses for merchants, while the security authorities announce from time to time the arrests of mafias and counterfeiting gangs with large forged sums of all financial categories.
    Central Bank data shows that counterfeit currency categories are often for the fifty thousand dinars category and the 25 thousand dinars category, and to a lesser extent for the 10 thousand dinars category, pointing out that cash workers can easily detect counterfeit currencies, as the Iraqi currency has no less than 20 stamps and stamps. And a sign that is impossible to imitate, and it is a means of protecting the currency from forgery.
    Last year, the security authorities found a money printing press used to counterfeit currency in Baghdad, and with it were found counterfeit money estimated at 13 billion Iraqi dinars, in addition to 23 thousand US dollars. . Money experts told Al-Masalla that counterfeiting currency requires capabilities that are not available to the average citizen, and that behind the phenomenon are influential and rich parties that obtain huge amounts of money as a result of counterfeiting.
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