Isolated Fraud of 5K & 10K Iraqi Dinar discovered by the Commission

The Iraqi Parliamentary Economic & Investment Commission has confirmed that they have discovered a fraud in the 5 thousand Iraqi dinar category and the 10 thousand dinar category in the Iraqi domestic market.

He also stressed that this is a supposed phenomenon of fraud case because it hasn’t yet irritated in the Iraqi domestic markets. A member of the committee, Najiba Najib issued a press statement and said that commission has discovered a number of fraud cases regarding the 5, 000 and 10,000 Iraqi dinars in the local markets. But, those cases haven’t yet become a terrible phenomenon that didn’t penetrate in the country. She pointed out that the Iraqi Central Bank has experienced counterfeit Iraqi dinar currency in the last couple of months and examined the targeted areas that are involved such kind of activities.

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Najib further explained that the Iraqi Central Bank has taken considerable amount of measures and mechanisms for the category of 25 thousand Iraqi dinars. CBI has ensured that this currency will not be rigged and it will be very difficult to print the new version. She also confirmed that the phenomenon of counterfeiting has been considered isolated or recoverable cases, so there isn’t any kind of fear because it will be entirely controlled and managed by the Iraqi Central Bank. Last month, Iraqi parliamentary finance committee said that smuggling and money laundering in Iraq has been considered an international level crime. Committee also stressed that Iraqi parliament has initiated a new law to stop money laundering. It was also pointed out that the Iraqi citizens haven’t any spiritual reporting elements that intentionally work in the area of money laundering and transferring money abroad. The finance committee also said that Iraqi federal government should take some immediate steps regarding the operations at the Iraqi Central Bank.

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