Concern the spread of counterfeit currency in the Iraqi capital markets

Posted: October 3, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

There is a state of anxiety among Iraq’s Diyala province, after warnings of a mafia shopping counterfeit currency in the local markets.

A state of controlled anxiety to workers in the capital markets in Diyala province in eastern Iraq, the spread of counterfeit currency in which, amid warnings of a mafia-backed Iraqi provinces seeking to establish outlets for the marketing of all kinds of counterfeit currency to domestic markets.

And Abdel-Rahman Masoud Al-Ibrahimi (50 years), the Office for buying and selling currencies in the city of Baquba, told Xinhua on concern about the increasing amount of pumping of counterfeit money in the local markets, confirming that it is detrimental to the national economy and lose credibility and trust among the citizens.

He Brahimi that this is not chaotic but structured stands behind organizations described Palmtnfzh too, and that the Weimar days, but comes to him a citizen, carrying in his hand sums false, indicating that the phenomenon has become serious, and should be addressed quickly by the competent authorities.

With Fadel threshold (36 years), the Office of Exchange in Baquba, that there is a mafia Iraqi-backed regional present invisibly in the local market is working to establish outlets for marketing of counterfeit currency, whether Iraqi or foreign, pointing out that the increasing phenomenon of fake money behind it views may be influential armed groups or Iraqi political parties are corrupt.

He believed Alonda Ibrahim Ali (45 years), the exchange office in Baquba market that counterfeiting of foreign and domestic has become more professional than before, making it more difficult to identify it by specialists in mind Balbstae.

The Alonda that what is happening shows that it is behind the expansion of the framework of counterfeit currency is designed to achieve two things, first to provide sources of support to armed groups or political sides are corrupt, and the second damage economist local and create a state of chaos and confusion caused by the large number of fake money in local markets.

A source intelligence in the city of Baquba that “most indicators of field for the conduct of activity networks, counterfeiting of currency stands behind arms financial organizations several armed notably the rule, stressing that the marketing of fake money in the local markets generate the huge profits, and thus guarantees the provision of financial support.

The source continued that 40 percent of financial support available for the organization of al Qaeda and its allies come from organized crime in all its forms, but the counterfeiting of currency and foreign and local pump in the domestic market accounts for the lion’s share.

He expected the Salah al-Obeidi, an expert on domestic security, “most of the networks link with armed groups counterfeiting of currency, which means that fraud and violence are two sides of one coin, bearing the title sabotage everything,” stressing that what is happening is a serious economic terrorism. He pointed out that he “saw some of the counterfeit banknotes week ago and was on the high level of accuracy and professionalism, which demonstrates that there are great difficulties facing clients in the commercial market in the detection of fraud, only by experts or specialists scanners minutes.”

He submitted Hisham Tamimi, Director of the Division to combat crime in the city of Baquba, Iraqi police, the security detachments able during the year of the arrest of four specialized networks and promote the distribution of counterfeit currency in both its domestic and foreign, had been working to pump money a financial penalty in the local market.

He added that the investigations with the network elements of fraud have been arrested, including confirmed the suspicion is not possible association with armed groups as one of the arms that provide sources of funding for military operations in order to ensure the continued momentum of violence and killing more innocent people.

Tamimi and concluded by saying, that “his Division proceeded to the distribution of a warning bulletin contains the most important benchmarks that can be drawn to in all the counterfeit currency exchange offices in order to prevent and to beware of counterfeit money and report immediately.”

The security services government in the province of Diyala in eastern Iraq, had revealed earlier this year about the existence of a trend in the armed groups, widening the circle of networks, counterfeiting of currency for the promotion of large sums of money to provide funding sources for its armed forces and to sabotage the local economy as a forgery a organized crime methods that provide a large part sources of funding of the armed organizations.