The Central Bank on the decision to include celebrities in “money laundering” investigations: It’s to protect the economy, not to restrict it.
The Central Bank on the decision to include celebrities in “money laundering” investigations: It’s to protect the economy, not to restrict it.
2025-11-26 05:16
Shafaq News – Baghdad
The Central Bank of Iraq confirmed on Wednesday that classifying social media celebrities and influencers as being involved in money laundering was done to protect the national economy and does not represent a “restriction”.
Alaa Al-Fahd, a member of the bank’s media team, told Shafaq News Agency that “the Central Bank of Iraq’s circular regarding the official warning to banks and financial institutions against dealing recklessly with social media celebrities and influencers, and classifying them as (high-risk and multiple-risk clients), is extremely important.”
Al-Fahd explained that “this category has become a new risk and threat to the financial sector, especially in the areas of money laundering, terrorism financing, and illicit financing, in addition to fictitious contracts and unjustified transfers, which necessitated issuing a set of instructions to protect the banking sector from any potential exploitation.”
He added that “this measure is a necessary step to protect the financial system from chaos and exploitation, after some influencers turned into a means of passing suspicious contracts, documents and transfers that are exploited in illegal activities.”
A member of the Iraqi bank’s media team confirmed that “these instructions do not represent a restriction, but rather a shield to protect the national economy, enhance confidence in the banking sector, and close the doors to any attempt to penetrate one of the most sensitive sectors in the country.”
The Central Bank of Iraq issued a warning to banks and financial institutions, directing them to classify social media celebrities and influencers as “high-risk and multi-risk clients “.
The Central Bank confirmed, according to documents published by Shafaq News Agency on Wednesday morning, that this category has become a “new risk and threat to the financial sector, especially in the areas of money laundering, terrorism financing, illicit financing, fictitious contracts and unjustified transfers .”
The Central Bank issued a set of instructions aimed at protecting the Iraqi banking sector from any potential exploitation.
shafaq.com
