Counterfeit currency spread ... again!!

[SocalDinar]

Counterfeit currency spread ... again!!

• 22 فبراير 2014 , 11:09 ص February 22, 2014, 11:09
• 313 قراءة 313 reading

 

 

 BAGHDAD / electronic integrity - Iraqi citizens expressed fears of a return to the proliferation of counterfeit currency recently and frequently in the Iraqi market and is considered one of the major problems that seeks to demolish the country's economy and spreading phenomenon of suspicion and mistrust in the daily dealings between citizens.

That's where the counterfeiting of currency in any country affects the national currency through real spread, leading to stagger the economy within the local markets, as well as helping to smuggle currency out of the country in twisted ways.

Warned Deputy Finance Committee Chairman Ahmed Faizullah, the spread of counterfeit currency in the local market because it would hurt the national economy, calling on the concerned authorities of the central bank and the security agencies to take the necessary measures to reduce them.

 Faizullah said: "The spread of counterfeit currency in the local market due to the deteriorating security situation and the absence of effective control on the market."

”. He added: "It's the security services of the Directorate of Economic Crime control and knowledge of local markets, the sources of these currencies to catch from the by promoting in order to save the national economy from the economic disaster if the continued spread of this phenomenon."

 

 A member of the Finance Committee MP Magda Tamimi: The number of counterfeit securities, according to the report of the Central Bank, amounted to 2301 banknotes out of 88 million banknotes deposited at the bank, noting that the proportion of these counterfeit banknotes estimated at about three thousand percent.

. She added that the percentage of counterfeit securities during October last was low and estimated at about one percent per thousand out of 103 million banknotes deposited with the central bank. Said financial expert, the appearance of Dr. Mohammed Saleh: "The rigging of the currency of economic crimes, and then forgery attack on property rights, a form of theft, and a threat to national security, and historically subject counterfeit currency into three types, the first is called forgery or falsification of an amateur, and they usually those who have the ability and knowledge to extract banknotes are similar to a large extent in the tradition of the original currency, and are used to fool the simple people who do not have sufficient experience in discrimination, and the second is an intelligence among nations "war fraud" depends on sabotaging the economy of certain countries are fighting among themselves in this area, and the aim is to tuck in large quantities of counterfeit currency to weaken the economy or to oust him, and the third is a commercial done by the Argonauts aim is to make a profit at the expense of little physical safety of the country's economy. " It is proposed that the financial expert that is activated side intelligence to fight this dangerous phenomenon of the province on the national economy, with the need to be in the currency of the properties and ensure that signals safety as a commodity strategy, and in all cases, whenever the developed technology in the world has increased the demand for fraud, is a conflict eternal in various countries, as polls suggest inaccurate to the existence of two billion dollars forger in the world, and even the United States has suffered from counterfeit currency, and the appearance that the sense of intelligence, security and international relations is important, because Iraq was a member of the organization, money laundering, and the countries cooperate with each other to fight this common phenomenon.Adding: Every period of time has to be to make changes and put the advantages and blades in the Iraqi currency is difficult to imitate, and to rely on high-quality paper and colors, printing and standards adopted in the currencies of the world, though she did not visit until now largely complete, and the existing categories forged devoid of any precise specifications, including phosphoric line and mark the horse's head and the type of paper and printing precision.For his part, leading Aziz, director of Al-Rimal specialized sale of hard currency that "fraud on the market since a long time but have begun to increase, more and more, where it began the category of the (10000) dinars, and now increased fraud and dramatically category of the (5000) dinars."

 Aziz said that "the process of fraud is very accurate, making it difficult to distinguish between editions (potable and counterfeit) not only in the currency of the dinar and the dollar but even in some cases, especially class (100) dollars."

 

وأضاف  He added that "the victim first and last ordinary citizens of these operations because it is difficult for him to know forgery, while the teller, according to his experience reveals the process of financial fraud in the currency regardless of the devices detect fraud."

A spokesman for the Interior Ministry Brigadier Saad Maan: managed security force of the Ministry of Interior of the arrest of the gang counterfeiting currency competent after receiving information pointed to the place of their presence.

He explained: that the force rushed to the area of the eastern section has ambushed a gang members and arrested him, and then follow the remaining individuals were arrested, were seized in possession of 12 million dinars, forged from the categories of 5 and 25 thousand dinars.  He added that the gang admitted its crimes and its rigging the currency since 2004, noting that the total of counterfeit Iraqi currency, which they rigged amounted to about three billion dinars.

With a number of citizens have complained in the provinces of Baghdad, Dhi Qar, Babylon and Saladin of the spread of counterfeit currency and dramatically in the market, what caused them to resort towards the purchase of dollar to keep their money.

. The process of counterfeiting has become a lucrative business with the outlaws, where they appear from time to time and other cases of counterfeiting Iraqi groups with five thousand and ten thousand dinars.

و. He was declared the official spokesman of the Ministry of Interior Directorate enable economic crime police department in Salahuddin province, of the arrest of a gang specialized rigging foreign currency and possession of counterfeit U.S. $ 130 000.

The Interior Ministry also said in a statement the middle of last March that "the power of the police to combat economic crime in Dhi Qar was able to adjust the printing press to the counterfeiting of currency during an inspection of one of the houses in the neighborhood of Sumer the center of the city of Nasiriyah," noting that "the force found the amount of 1.521 million JD forged from all categories. "

 In turn, on behalf of al-Tamimi, a researcher financial, that "the operations of printing counterfeit currency are outside the country, because it is a complicated process and accurate through which revealed a cipher security in the currency, as evidenced by the process spread the categories of (5000-10000) dinars, and not all currencies."

Tamimi said, "The proliferation of these currencies in the market and distort the reputation of the dinar lose confidence handle it, and this will impact on the national economy, calling on the security agencies to combat this phenomenon and the arrest of the perpetrators."

He pointed out that "most of the merchants and citizens prefer to deal in the last period of the dollar without the dinar to avoid the phenomenon of fraud, and this is what led to the increased demand to buy the dollar over the last period and increased its price against the dinar."

وك The central bank has asked all banks months before the disclosure of the measures taken against the applicants fake banknotes.

انتهى9 Ended 9  http://translate.googleusercontent.com/translate_c?depth=1&ei=u9RmUfGyNYa7igLa-4G4Dw&hl=en&prev=/search%3Fq%3Dnahrain.com%26hl%3Den%26biw%3D1280%26bih%3D891&rurl=translate.google.com&sl=ar&u=http://alestiqama.com/%3Fp%3D71487&usg=ALkJrhi-BOSeKfN63sdcYqLTJV1klSwtZg

 

[skeetdog]

Thanks SocalDinar...Seems there are a lot of article's coming out that suggesting to not use the dinar and trade the dinar for the dollar...I can't help but think that Iraq would want as many dinar off the street and out of circulation as possible before the switch is flipped...   

[sandfly]

YEP

[imgesing]

How can you counterfeit the most advanced currency in the world?

Just makes no sense at all!

Of course IMHO

Praying for a quick change

[magawatt]

Maybe when the bank notes are fresh and clean the security features are obvious but when the currency is torn, tattered and taped together, the sheep and the goats are hard to tell apart.

Edited February 23, 2014 by magawatt

[yota691]

Add this ...Posted 04 January 2014 - 10:50 AM

The high proportion of counterfeit currency deposited with the Central Bank

04/01/2014

 

 

BAGHDAD / JD / .. Revealed the Finance Committee for the high proportion of counterfeit currency deposited with the central bank, while confirming that the number of banknotes that have been exposed exceeded the 2000 paper out of the 88 million paper.

A member of the Finance Committee MP Magda al-Tamimi told / JD /: the number of leaves counterfeit, according to the report of the Central Bank, amounted to 2301 banknotes out of 88 million banknotes deposited at the bank, noting that the proportion of these counterfeit banknotes estimated at about three percent per thousand .

She added that the percentage of counterfeit securities during October was low and estimated at about one percent per thousand out of 103 million banknotes deposited with the central bank.  

The central bank has asked all banks months ago to disclose measures taken against the applicants fake banknotes.

The central bank said in an earlier statement received / JD / copy of it: Massarvkm detect counterfeit banknotes in deposits have earned from institutions or individuals ..

He called in his statement informing the central actions taken against the depositors of banks in such cases to provide him with what has been taken.

The Interior Ministry has revealed the arrest of a gang in possession of 12 million dinars forged, asserting that the gang admitted rigging three billion dinars.

A spokesman for the Interior Ministry Brigadier Saad Maan in an earlier statement / dinar /: managed security force of the Ministry of Interior of the arrest of the gang counterfeiting currency competent after receiving information pointed to the place of their presence.

He explained: that the force rushed to the area of ​​the eastern section has ambushed a gang members and arrested him, and then follow the remaining individuals were arrested, were seized in possession of 12 million dinars, forged from the 5 categories and 25 000. 

He added that the gang admitted their crime and their rigging currency since 2004, noting that the total of counterfeit Iraqi currency, which they rigged amounted to about three billion dinars. / End / Doaa Amer /

Read more: http://dinarvets.com/forums/index.php?/topic/169147-the-high-proportion-of-counterfeit-currency-deposited-with-the-central-bank/#ixzz2u9C9R0EH

[MyLadiesDaddy]

There pushing people to use the dollar and admitting that counterfeit currency is

being deposited in the central. That means there drawing in the older notes that are

worn out and easier to counterfeit. This is a ploy and a good thing for us.

[gregp]

I sure hope they weren't selling Ali !!! LOL

[yota691]

Economy parliamentary downplays talk of counterfeit currency

SATURDAY, FEBRUARY 23, 2014 18:00   

Twilight News / promised for economic and investment commission in the House of Representatives Sunday reports that suggest the presence of groups of forged Iraqi currency that it is not a cause for concern, noting that the role of regulatory agencies is not the level of ambition.

And talking to press reports about the presence of groups of forged Iraqi currency markets.

He said the Commission's decision Mahma Khalil's "Twilight News" that the country has passed through exceptional, and no doubt there are people, weak people are trying to target the currency by working on the production or printing classes forged.

"I can not say that what is happening is a phenomenon, but we say that what is happening is not a cause for concern, and there may be a few cases compared to the mass of large cash currently in circulation in the market."

He pointed out that "the economic and regulatory authority is not the level of ambition," likely presence of small bands behind these cases, rather than a regional international intelligence.

He continued by saying that the CBI does not allow the passage of any class forged and always being discovered, and one can touch these capabilities with the CBI.

Khalil pointed out that the economic and investment commission had previously demanded, along with the Iraqi Central Bank to switch the currency, but waited the decision, because it is expected that there will be an attempt to introduce counterfeit categories.

He said the sensors and control devices within the central bank sensitive to the existence of such cases and discover.

It is said that the phenomenon of counterfeiting has spread, especially after the fall of the former regime and the absence of government and the security and political chaos and the seizure of currency printing devices from state institutions.

But government authorities managed to reduce fraud by following security procedures, technical and wide, according to observers.

Read more: http://dinarvets.com/forums/index.php?/topic/173027-economy-parliamentary-downplays-talk-of-counterfeit-currency/#ixzz2uAjxSE4P