Parliamentary Security: Reducing the impact of currency counterfeiting in Iraq by 70%
Parliamentary Security: Reducing the impact of currency counterfeiting in Iraq by 70%
1-24-2025
Information/Baghdad
The Parliamentary Security and Defense Committee confirmed, on Friday, that the impact of currency counterfeiting operations in Iraq has been reduced by 70%, noting the success of security plans in uncovering the most prominent networks involved.
Committee member MP Yasser Iskandar Watout said in an interview with Al-Maalouma that “counterfeiting currency in Iraq is considered one of the crimes that has a significant impact on the economy, as it is carried out by local and international networks that target the local currency and several foreign currencies, which has posed a major challenge in recent years.”
He added, “The Ministry of Interior’s plan for 2024 was very effective, as it was able to direct a series of qualitative strikes that resulted in uncovering six of the most dangerous currency counterfeiting networks in the country, which contributed to reducing their impact by 70%.”
“The process of detecting counterfeit currency, whether local or foreign, depends on multiple contexts, most notably intelligence efforts, in addition to enhancing citizens’ awareness by clarifying the features of counterfeit currency and the correct specifications, which contributed to the growth of their security and economic sense, and led to reporting counterfeit currency, which formed some of the basic threads for uncovering these networks,” Watout pointed out.
It is worth noting that counterfeiting local and foreign currencies is a crime punishable by law, and it poses a challenge not only in Iraq, but in many countries, as mafias use it to achieve illegal profits without regard to its serious economic repercussions.
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