3 days ago
Iraqi court recovers 3B dinars in currency fraud case
Shafaq News/ Iraq's Supreme Judicial Council announced that the Karkh Second Investigative Court has recovered 3 billion IQD ($2.12 million) in a financial fraud case.
In a statement released on Tuesday, the Council clarified that the amount retrieved from two companies was found to have violated the law by exploiting dollar exchange rate differences through fraudulent overseas money transfers.
'The court continues to pursue legal action against other companies using similar illegal methods to secure large profits at the expense of public funds,' the statement concluded.
Despite the formation of oversight bodies and official pledges to pursue reform, issues such as embezzlement, bribery, and misuse of public funds remain widespread across institutions.
