A number of Judges issued their statements regarding money laundering and said that millions of U.S dollars had smuggled from the country. They indicated that those money laundering and smuggling operations were managed by traders, bankers, money transfer fabricated companies. Special Magistrate for money laundering operations Iyad mohsin said that money laundering is a crime and smugglers used some specific methods for transferring money abroad illegally. They opened small accounts instead of making a heavy account and spread money across various accounts and then assembled in another account with a number of transactions and illegally transferred money abroad. He further added that Iraqi Central Bank sold U.S dollars in order to achieve two targets. One purpose was to selling U.S dollars to exchange companies weekly and these exchange companies sold significantly for travel treatment or tourism purpose at a low price compared to the market price.
He added that some companies some companies sold the U.S dollars in the black market against the fake copies of passports and tickets. The second target of CBI was to sell the U.S dollars for importing purpose for private sector from auction of foreign currency. He pointed out that most of the criminals managed financial crimes in getting commissions by depositing their money in their private bank accounts. He added that criminals represented their companies in the auction sale of the U.S dollar by proving fake statements of their companies. Those companies mentioned that they are getting U.S dollars for the import purpose of the private sector for buying goods and transferred millions of U.S dollars into their accounts outside the country. He added that merchant provided original and fake documents and a list of fake permits to private banks for buying the currency and then moved currency outside the country using illegal methods.