Integrity overthrows 46 exchange companies on charges of currency manipulation
Integrity overthrows 46 exchange companies on charges of currency manipulation
6-21-2023
Information / Baghdad..
On Wednesday, the Federal Integrity Commission’s teams managed to arrest (46) accused owners of private exchange companies. Against the background of manipulation, forgery, and circumvention of the platform system for selling foreign currency.
The Commission’s Investigation Department stated, in a statement received by the information, that “a team was formed in the directorates and offices of the commission’s investigation in Baghdad and the governorates to investigate and verify information received that includes some private exchange companies committing fraud and violations to circumvent the platform system approved by the Central Bank of Iraq.” To withdraw foreign currency and sell it on the black market.”
He added, “Its teams were able to launch an inspection campaign, and after the investigation, investigation and auditing operations, they overthrew (46) of the owners of the money exchangers, because they used the passports of citizens and uploaded them to the platform system approved by the Central Bank, and withdrew an amount of (2000) US dollars.” For each passport without the knowledge or consent of the holder of the passport and with a forged travel ticket, pointing to the absence of the customer’s documents and his signature on the form for disbursing the amount.
She indicated that “the arrested were distributed among several governorates, where (20) of them were seized in the capital, Baghdad, and (8) in Basra, while (7) accused were arrested in Wasit, while the number of owners of private exchange companies who were seized in Each of Maysan, Anbar, Muthanna, Najaf, and Diwaniyah has two accused in each of them, and one accused in Babil province.
And she added, “The teams were also able to seize dozens of transactions and passport records of private exchange companies, which showed that there were no signatures for the customer to receive the amounts in the records or transactions,” warning that “some of the transaction owners denied receiving the amounts, after they were contacted by the authority’s teams.” .
And she pointed out that “the defendants were taken, accompanied by the exhibits and the seizure reports, to the judges of the investigation courts specialized in examining integrity cases, who decided to arrest them according to various legal articles, while the judge of the Second Karkh Investigation Court decided to assign the Commission’s investigation department to form an investigative committee to conduct an administrative investigation into the bank’s procedures.” The Iraqi Central Bank to follow up on the work of some private exchange companies, and also decided to assign the aforementioned investigative committee to conduct investigations and state the shortcomings by checking the exchange of money amounts according to tickets and passport priorities seized by the commission, which it began to compose.
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