[size=38]Dealers monitor currency counterfeiting activity in Iraq..and the authorities arrest counterfeiting gangs[/size]
[You must be registered and logged in to see this image.]
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.
[You must be registered and logged in to see this link.]
» MM&C 6/29/24 Dinar Explainer 1: Why Iraq has Two Exchange Rates
» MM&C 6/30/24 RK completes the first phase of the automation project and reveals its revenues within
» Minister of Labor directs preparation of a study on digital transformation within the ministry
» Minister of Labor directs review of controls for granting loans
» A government agreement to activate electronic payment in pharmacies and stores
» Parliamentary Finance reveals the effects of the oil price increase and its differences in the 2023
» The Service Council begins distributing holders of advanced and top diplomas
» Al-Emaar announces investment opportunities for residential cities soon in these governorates
» The Wasit government is discussing the Chinese Oasis Company's oil projects in the governorate
» Telecommunications announces the completion of 3.5 million FTTH fiber optic lines
» The truth about the "Syrian-Turkish" meeting in Baghdad.. What do the three parties benefit from?
» A deputy reveals the reasons for the increase in the number of “blacklisted wanted persons”
» Kurdistan delivers more than 70 billion dinars to the federal government in non-oil revenues for the
» Parliamentary Legal: Laws stalled in Parliament need political consensus
» A joint meeting between the governments of Baghdad and Erbil to unify border crossing procedures
» Al-Sudani: If it weren't for the strong ties, the different clans and figures wouldn't have joined t
» A new decision from the Central Bank regarding granting dollars to travelers
» Parliament is awaiting consensus to approve a package of laws
» Oil Exploration signs a contract to implement seismic surveys for the Khana oil patch with the Chine
» Al-Bajari: The government’s policies towards stopping local factories and laboratories are “shy”
» Joint meeting between the federal government and the region on mechanisms for unifying procedures at
» Al-Rasheed Bank announces raising the salaries of civilian and military retirees for the month of Ju
» Non-oil revenues... Kurdistan Region Finance deposits more than 70 billion dinars in the federal tre
» Minister of Environment: Infrastructure for environmental improvement is considered one of the gover
» The President of the Republic denounces the infringement on the independence of the Iraqi judiciary.
» Parliament considers the control of economic committees the reason for the failure of some ministrie
» Al-Sudani directs to settle expropriations along the development road path
» US Congressional Lobby: Kurdish alliances and the Iraqi opposition against Baghdad
» Al-Sudani emphasizes fortifying the state with the constitution and the law
» Popular Movement: The American Embassy obstructs Iraq’s accession to the Belt and Road Initiative
» Suleiman: There are no government solutions to stop Turkish violations
» State of law: There is no lawsuit against Al-Halbousi despite his conviction for forgery
» Basra Council intends to vote on the 2024 projects plan
» Deputy demands that public opinion be revealed about the importance of the Aqaba pipeline
» Al-Sudani emphasizes fortifying the state and its institutions and enhancing their effectiveness thr
» Economist: The Aqaba pipeline will cost Iraq $28 billion
» Türkiye: We have a strategic agreement on the water file with Iraq
» Iraq hosts a “Turkish-Syrian” meeting with Chinese and Iranian support
» Postponing the distribution of retirees’ salaries until tomorrow due to the bank holiday
» Good news for Iraqi retirees
» Iraqi citizens are surprised by the refusal of government banks to sell dollars to pilgrims
» Baghdad-Erbil dispute delays opening of Yazidi mass grave in Sinjar for 9 years
» A significant increase in foreign remittance sales at the Iraqi Central Auction
» The head of the Media Commission confirms Iraq's commitment to bridging the digital gap
» The Prime Minister's Advisor announces that Iraq has completed its integration steps by providing sa
» Minister of Interior inaugurates advanced color printing factory for national cards
» Most notably, "owning a sufficient number of cars".. Transport clarifies the controls for the work o
» "Joint Projects" Minister of Resources Explains Details of Water Talks with Turkish Side
» The service effort completes its work and opens the Al-Shumukh area in Baghdad
» Iraq, Iran move closer to river cruises
» Parliamentary Women: The proposal to amend Article 57 oppresses women
» Furnishing 1000 modern schools across the country
» Baghdad Municipality: 400 liters of water per person per day
» Widespread condemnation of the American abuse of Judge Zidane
» Private universities and the labor market
» Experts expect the money supply to invest in stocks
» "Yesterday a forest, today apartments"... Influential people and "buildings" destroy the forests and
» Minister of Labor: Tomorrow, the World Bank grant for social protection beneficiaries will be launch
» Kurdistan Ministry of Finance "notes" regarding commercial banks
» Interior Minister inaugurates first factory to issue "colored and forge-proof" national card in Iraq
» Iraqi Center Monitors 50 Personalities and Organizations Attacking the Judiciary
» Sudanese directs to settle expropriations along the path of the “Development Road Project”
» A delegation from the Kurdistan Regional Government arrives in Baghdad
» Disclosing the value of the amounts allocated to military retirees in the Kurdistan region
» Parliament does not see any violation in it.. Foreign companies dominate Iraqi projects and local on
» No problems with the region’s revenues or salaries.. Why are the names of Kurdistan employees audite
» Parliamentary Finance Committee identifies ministries that spend the most on their annual allocation
» The dollar continues to rise in local markets
» The government directs to settle the expropriations of the {Development Road} path
» Al-Sudani affirms the government’s continued support for the cultural and social diversity of the Ir
» Economic: Direct banking investment is prohibited by order of the Central Bank
» Baghdad.. The overthrow of a person working as a “tribal police officer” in exchange for sums of mon
» Parliamentary Legal: Laws stalled in Parliament need political consensus
» Three Diwaniyah officials summoned on charges of squandering and exaggerating public money
» Qubad Talabani: The problem of delaying salaries in the region will end soon
» Parliamentary warnings: Irrigation dams threaten water reserves in Iraq
» Baghdad hosts the second meeting of the joint committee between Iraq and Turkey
» Retirement: Procedures for raising the salaries of retirees are completed
» Documents: Deputy sues Najaf governor over 4 companies
» The controversy over Article (57) continues... Parliamentary refusal to amend the Child Custody Law
» Al-Sudani appreciates the efforts of all workers in the pilgrims’ repatriation operations room
» Al-Sudani sponsors an official ceremony on the occasion of the 104th anniversary of the 1920 Revolut
» Details of the Sudanese meeting regarding the development road project
» Significant rise in dollar exchange rates in local markets
» In Baghdad.. A "soon" meeting of the Arab Contact Committee on Syria
» Iraq's oil exports to America increased within a week
» Construction defines the goal of the Ali Al-Wardi City project.. How many paragraphs does it include
» Services Iraqis "want" to live in Kurdistan... Cheap housing and security are available
» Iraq's agriculture flourishes again.. Farmers fight drought and the Gulf "melts" its crops
» Planning announces the conclusion of five contracts to implement service projects in two governorate
» Amin Al Iraq Bank: We were unable to increase our capital
» Launch date of the electronic visa program for foreign workers in Iraq
» Najaf resumes work on the electronic system
» Al-Hakim: The revolution of the 1920s established the foundation for building a modern state away fr
» Al-Sudani: We are keen to provide decent means of living and issue directives and legislation, the l
» Al-Bujari announces the imminent reopening of Al-Wasiliyah Port in Basra
» Basra Council announces receipt of 2024 projects plan
» Today.. Announcing the winning investor of the "Baghdad Metro"