Integrity Commission foils massive embezzlement attempt from two state-owned banks in Baghdad
Integrity Commission foils massive embezzlement attempt from two state-owned banks in Baghdad
5-28-2026
The Federal Integrity Commission announced on Thursday that it had thwarted an attempt to embezzle nearly 1.5 trillion Iraqi dinars from the Rafidain and Rasheed banks in Baghdad.
In a statement received by Al-Maalomah, the Commission said, “The field team from the Baghdad Investigation Directorate, in direct coordination with the relevant judicial authorities, went to the Rafidain Bank/General Administration, where, after investigation and surveillance, they apprehended three suspects in possession of forged statements and checks which they intended to cash illegally.” The statement added that “seven forged checks, allegedly issued by the Rasheed and Rafidain banks, totaling nearly 1.5 trillion dinars, were seized, intended for the benefit of the suspects.”
She added that “the operation, carried out in accordance with Articles (289 and 298) of the Penal Code, resulted in the seizure of the original contract for the sale of a deposit in the name of one of the accused, amounting to (612,000,000,000) six hundred and twelve billion Iraqi dinars,” noting that “the accused confessed to attempting to process the check cashing transaction in violation of the law.”
She continued, “Coordination with the management of Al-Rafidain Bank led to the discovery of the forged checks, while the initial investigations conducted by the team revealed that no such sums or accounts belonging to the accused existed.”
She confirmed that “a formal seizure report was prepared and presented, along with the accused, before the judge of the Second Karkh Investigation Court, which specializes in integrity cases, who ordered their detention pending the completion of investigative procedures.”
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