The Parliamentary safety and protection Committee confirmed, on Friday, that the impact of currency counterfeiting operations in Iraq has been decreased through 70%, noting the success of protection plans in uncovering the most distinguished networks concerned.
Committee member MP Yasser Iskandar Watout said in an interview with dinaropinions.com that “counterfeiting foreign money in Iraq is considered one of the crimes that has a giant impact at the economy, as it’s miles achieved by using local and global networks that concentrate on the local currency and numerous foreign currencies, which has posed a prime challenge in recent years.”
He introduced, “The Ministry of indoors’s plan for 2024 become very effective, because it became capable of direct a sequence of qualitative moves that led to uncovering six of the maximum dangerous forex counterfeiting networks within the united states of america, which contributed to reducing their effect by way of 70%.”
“The method of detecting counterfeit forex, whether local or overseas, relies upon on multiple contexts, most substantially intelligence efforts, further to enhancing residents’ consciousness by clarifying the capabilities of counterfeit foreign money and the suitable specs, which contributed to the boom in their security and financial sense, and caused reporting counterfeit currency, which formed a number of the basic threads for uncovering those networks,” Watout pointed out.
it’s miles worth noting that counterfeiting local and foreign currencies is a criminal offense punishable by law, and it poses a challenge not best in Iraq, but in many countries, as mafias use it to obtain illegal income with out regard to its severe monetary repercussions.
