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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


    International mafias behind currency counterfeiting: Who protects the pockets of Iraqis?

    Rocky
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    International mafias behind currency counterfeiting: Who protects the pockets of Iraqis? Empty International mafias behind currency counterfeiting: Who protects the pockets of Iraqis?

    Post by Rocky Today at 5:22 am

    [size=38]International mafias behind currency counterfeiting: Who protects the pockets of Iraqis?[/size]


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    October 23, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala: Currency counterfeiting networks in Iraq are increasing and causing widespread concern among citizens and authorities alike, as counterfeiting operations are no longer limited to simple paper denominations, but have reached levels of precision and professionalism that make them almost undetectable to the naked eye.
    According to many reports, the networks involved in these activities span across borders, meaning that there are international mafias with multiple addresses behind them.
    In incidents, the security authorities arrested several people suspected of involvement in smuggling counterfeit dollar banknotes that were about to enter the Iraqi market.
    Huge sums of money were seized, estimated at hundreds of thousands of dollars, which were intended for marketing within local and international smuggling networks.
    The counterfeiters cooperate with a widespread network that smuggles this money from neighboring countries, exploiting the economic and security chaos in some areas.
    Umm Ahmed, a citizen from Baghdad, said sadly: “I went to the market to buy my daily needs, and when I paid for them, I was surprised that the seller refused one of the banknotes because it was counterfeit. I don’t know how this banknote got into my hands, but now I have to bear a huge loss.”
    Umm Ahmed is not the only one who suffers from this issue. Many citizens tell similar stories about the counterfeit currency they find in their wallets without knowing how they got it.
    For his part, Ali Al-Baghdadi, a local businessman, expressed his great concern about the impact of these counterfeit currencies on the national economy.
    “If counterfeit currency continues to circulate in such quantities, it will have a devastating effect on the economy,” Ali says. “We rely heavily on the dollar for our business transactions, and if people start to lose confidence in the currencies in circulation, we will face a major crisis of confidence that will lead to a decline in economic activity.”
    The Central Bank of Iraq is working to coordinate with the security and executive authorities on an ongoing basis to maintain the integrity of the Iraqi economy and confront counterfeiting networks.
    Among these efforts are awareness campaigns, where citizens are advised to check the currencies they deal with and verify their authenticity using special detection devices or by paying attention to the security marks on the currencies.
    Gangs attempt to distribute large quantities of counterfeit currency in local markets, passing the money to small traders who may not have the means to detect counterfeiting.
    “We work hard to make a living, and now we have to be experts in detecting counterfeit currency? This is an additional burden on us,” said Hussein Al-Saedi, a food trader, angrily.
    These repeated incidents, whether real or hypothetical, pose a major challenge for the Iraqi government to protect citizens and the economy from this phenomenon.
    MP Yasser Iskandar, a member of the committee, said in a statement, “Counterfeiting currencies, whether foreign or local, has serious repercussions on the economy. It drains people’s savings and creates a state of mistrust, especially since counterfeiting operations have taken on a dimension of precision and professionalism because the networks involved in them cross borders, meaning that there are international mafias with multiple addresses.”
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