The Central Bank warns against scams and fraud perpetrated using various banknotes.
The Central Bank warns against scams and fraud perpetrated using various banknotes.
2026-02-23
The Central Bank warned on Monday of fraud and scams perpetrated using various banknotes. The Central Bank’s media office stated in a statement that “a number of fraud and scams have been detected perpetrated by unscrupulous individuals against citizens for financial gain,” calling for “the need to be cautious and vigilant to avoid falling victim to these scams.”
He added that “the most prominent of these operations that are practiced inside Iraq are divided into several methods, including: selling a (1,000,000) million dollar note as a banknote, when in fact it is a commemorative note that is not in circulation, and that the highest denomination is (100) US dollars, with the promotion of black papers cut to the same dimensions as the dollar note as real (100) dollar notes, but they are coated with a black substance, claiming that after removing the black substance they will return to circulation, and there is absolutely no truth to that.”
He also explained that “among the operations carried out inside Iraq is the promotion of banknotes withdrawn from circulation from several countries that have no monetary value and are exchanged for Iraqi currency in high amounts, using different methods, pretexts and claims to sell them to victims of fraud, as well as banknotes of dollars and dinars that are copied or printed and bear the word ‘model’ or ‘null’ or ‘invalid’, used as children’s toys and bearing the features of a banknote and promoted as real banknotes.”
The Central Bank confirmed, according to the statement, that “the relevant authorities have been notified in order to prevent its printing or importation from outside Iraq.”
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