The Iraqi Securities Commission warns investors against fraudulent companies and unlicensed investors.
The Iraqi Securities Commission warns investors against fraudulent companies and unlicensed investors.
2026-09-06
Shafaq News – Baghdad
The head of the Securities Commission, Faisal Al-Haimas, warned citizens and investors on Sunday against dealing with fake companies and unlicensed entities that promote investment services and opportunities, stressing the need to verify the legality of entities before depositing funds or entering into any investment activity.
Al-Haims explained in an official statement that some entities resort to using trade names, electronic platforms, and social media pages to deceive investors into believing that they are accredited financial institutions, as well as making promises of high and quick returns in order to lure them in and seize their money.
He stressed that safe investment begins with verifying the service provider and ensuring that it has obtained the necessary licenses and legal approvals, warning against relying on advertisements or recommendations circulating on social media as the basis for making investment decisions.
The head of the authority stressed the need to be wary of entities that request money transfers to personal accounts or unknown electronic wallets, or require advance payments, calling for a halt to dealing with any entity that promises guaranteed and unrealistic returns until the integrity of its activity is verified.
He called on investors to inquire with the relevant regulatory authorities about licensed companies before dealing with them, and to report any activity or advertisement suspected of engaging in investment or financial activity without a license.
Al-Haimas stressed that the Securities Authority continues its regulatory and awareness efforts to reduce illegal practices and enhance investor protection, which contributes to consolidating confidence in the market, raising the level of investment awareness, and protecting citizens’ savings.
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