On Monday, the Central Bank of Iraq issued a warning about the misuse of electronic payment cards outside of Iraq.
The Central Bank, in a statement received by Al-Mutla’, has warned against the misuse of electronic payment cards provided for meeting the natural and legitimate needs of citizens.
During his speech, he emphasized the need for strict measures to limit fraudulent activities, safeguard the financial system and mitigate any related risks. He mentioned that the names of bank cardholders caught misusing or smuggling bank cards will be included in blacklists and legal action will be taken against them.
The bank has stated that any individuals found violating the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and related instructions and controls, will face necessary actions from the bank. These actions include being prohibited from issuing other cards and financial products.
