Suspicious Activity

[WorkerBee]

Let me start by saying I'm here for the same reason most are here, to profit from the purchase of IQD so sorry this is not an upbeat article. I came across this article from bankersonlinedotcom and it really has me concerned. I was unable to see when this article was posted but it seems current to me. It seems our government believes we maybe unwitting participants in financing terrorism. I welcome your thoughts and would appreciate any help posting a working link.

Not sure how to make a working link so I've copied and pasted the article as well.

http://www.bankersonline.com/security/sar/dinarsar.html

Excerpt from the SAR Activity Review

Suspicious Activity Involving the Iraqi Dinar

Over the last year, the circumstances of the war in Iraq have created the phenomenon of businesses trading in new Iraqi dinars. Many of these businesses advertise or conduct business over the Internet, and suggest that the Iraqi dinar, much like the Kuwaiti dinar following Operation Desert Storm, will increase in value exponentially following United States military involvement in Iraq. Most investors purchase dinars from websites established particularly for selling dinars or from major auction websites.

FinCEN has been receiving inquiries regarding the legitimacy of websites offering Iraqi dinar sales. While it is not necessarily illegal to buy or sell Iraqi currency, there are a number of risks and compliance concerns for the financial community. For example, Iraqi officials state that it is illegal under Iraqi law to export dinars. Therefore, in addition to questions about the source of the currency, and the potential for investment or securities fraud, businesses offering to sell dinars may also pose the risk of being used to fund terrorism or as a vehicle for money laundering. FinCEN also has a particular interest in these businesses because they may be money services businesses required to comply with the Bank Secrecy Act.

Any United States entity that buys or sells currency, including Iraqi dinars, in amounts of more than $1,000 U.S. to any one person in one day may be a money services business under FinCEN’s regulations at 31 C.F.R. Section 103.11(uu). [Note: there have been questions about the old dinar with Hussein’s picture on it. That dinar ceased to be legal tender around January 15, 2004 and thus ceased to be currency for purposes of the Bank Secrecy Act.] Money services businesses include:

Money transmitters;

Currency Dealers or Exchangers (except those who do not exchange more than $1,000 in currency or monetary or other instruments for any person on any day in one or more transactions);

Check cashers (except those who do not cash checks in an amount greater than $1,000 in currency or monetary or other instruments for any person on any day in one or more transactions);

Issuers, sellers, or redeemers of traveler’s checks, money orders, or stored value (except those who do not issue, sell or redeem such instruments in an amount greater than $1,000 in currency or monetary or other instruments for or from any person on any day in one or more transactions);

Money services businesses generally are required to register with FinCEN, to establish anti-money laundering programs, and to comply with recordkeeping and reporting requirements under the Bank Secrecy Act. Dinar sales websites frequently claim that their businesses are registered with the Department of the Treasury. These assertions are not always accurate. Further, it may be diffi- cult to discern from the money services business registration list on FinCEN’s website (www.msb.gov) whether the business is in fact registered, particularly if the business is an affiliate of, or a “doing business as” alias for, the business that is registered. Moreover, even if the business is registered with FinCEN, that registration does not guarantee that the business is in compliance with other Bank Secrecy Act requirements or with applicable state law. For these reasons, a financial institution that conducts business with entities selling Iraqi dinars should conduct appropriate due diligence to assure itself of the legitimacy of such entities. All financial institutions that do business with, and potential customers of, such money services businesses, are reminded that registration with FinCEN in no way authenticates either the legitimacy of a business, or the compliance of the business with any federal, state, or local laws.

An analysis of FinCEN’s Suspicious Activity Report database for filings referencing Iraqi dinars indicated suspicion of the use of Internet dealers of Iraqi dinars in terrorist financing, although not all of the corresponding narratives provided clear or complete justification about the terrorist financing nature of the activity reported. This serves as a potent illustration of the critical importance of a clear and complete narrative description when filing a Suspicious Activity Report. Particularly when terrorist financing is suspected, conclusory statements with no supporting facts or justification are of limited use to law enforcement in pursuing their investigations.

Further analysis of businesses engaged in dinar sales is ongoing. For instance, FinCEN analyzed Bank Secrecy Act data (including Suspicious Activity Reports, Currency Transaction Reports, and Reports of International Transportation of Currency or Monetary Instruments) involving the purchase of Iraqi dinars to support a law enforcement initiative that uncovered an elaborate network of structured money movement by and to persons suspected or convicted of substantial fraud or other illicit international activities.

Excerpted from SAR Activity Review Issue 8, page 41

[thegente]

It's kind of funny how all of this negative publicity on the Dinar has suddenly been showing up in US media as of late..makes me think we're close, that they're trying to keep speculators away/get folks to sell early...thx for the post!

Edited September 29, 2011 by thegente

[WorkerBee]

It's kind of funny hope all of the negative publicity on the Dinar has suddenly been showing up in US media as of late..makes me think we're close, that they're trying to keep speculators away/get folks to sell early...thx for the post!

Idon't believe this website is related to the media at all. It is a site used by bankers to stay in compliance with Federal Regulations.

[Quietlearner]

That site has made me angry on more than one occasion. I have watched them spew their heathen ilk on more than one occasions. The below is the the authority on US citizens owning Iraqi Dinar. It is controlling in the utmost legal sense.

Posted on Monday, March 22, 2004 7:08:11 PM by chance33_98

New Iraqi Dinar (NID)

Presidential Order 13303 allows US Citizens to invest in the New Iraq. Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen

IRAQ (PRWEB) March 2, 2004 -- Investment in the new Iraq is guaranteed under the Presidential Order 13303 removing sanctions on investment in Iraq. The new order allows for a restructuring of the banking system in Iraq. US citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Business in Iraq.

Iraq has a new currency to replace Iraq’s two currencies, one of which was easily counterfeited and mostly circulated in a single denomination. Banks issue only the new currency and government employees paid in cash will receive their salaries in the new currency. Until January 15, 2004 the old and new currencies will circulate freely at a fixed exchange rate. Exchange between the old and new currencies is conducted at now charge at multiple exchange points around the country.

The other financial market structures are strong:

95 percent of all pre-war bank customers have service and first-time customers are opening accounts daily. Iraqi banks are making loans to finance businesses. The central bank is fully independent. Iraq has one of the world’s most growth-oriented investment and banking laws. The new Iraqi dinar which is printed bu De La Rue company in the US and Great Britian, is valued at just 2 tenths of one cent today. The US treasury has a strong dinar policy and is working with the CPA (Coalition Provisional Authority) to reinstate a strong decentralized banking system in Iraq. By December 2004 there will be six Western Banks in Iraq and six Iraqi Banks outside Iraq in operation. In March Three banks were given licence to operate in Iraq, National Bank of Kuwait, HSBC Bank and Charter bank of England

Furthermore, the Dinar being sold at the currency exchanges is being monitored closely by both the US Securities and Exchanges and of course our dear US Treasury Department. They (Tres. Dept.) have clearly displayed this as you need only think back to the Brad Hubner, Rudolph Conahan situation that has arisen concerning the taking of US currency for seat in a Hedge Fund that would after, paying $750, us for the seat you would then have, I believe, 5 days post RV to send them 1 million dinar for investment in the fund. It is still unclear if they did anything wrong. I believe their intentions were solid.

I would like nothing more than to catch these folks slipping, they come dangerously close to liable in my opinion. If there is one thing I cant stand it's a bunch of smack talking, better than everyone else bankers, yuk'n it up at the expense of hard working folks like ourselves. Trust me when I tell you that I am monitoring that site daily and the attorney is already retained.

Quietlearner

[Nelg]

The SAR Review you quote was printed in April 2005. Just thought you would like to know.

[thegente]

Idon't believe this website is related to the media at all. It is a site used by bankers to stay in compliance with Federal Regulations.

Yes, I realize that, I was merely commenting on the timing of this type of info "surfacing" along with other articles and statements lately. This is a lot closer to happening than most folks think.

[WorkerBee]

The SAR Review you quote was printed in April 2005. Just thought you would like to know.

Thanks for the info Nelg.

Also Quiteliearner, I am aware of PO 13303 but am concerned that some criminal minds used it to their advantage. I mean you have to admit, the US isn't the brightest bulb in the bunch here lately.

[thegente]

The SAR Review you quote was printed in April 2005. Just thought you would like to know.

Thank you!!

[randalln]

Why do you think the bank asks you to open a account before talking with you about Dinar ? just open a account if you have nothing to hide .

And this is for the GOV,

I got my first Dinar in Iraq from a young boy that came to the gate at Camp Spikier C1 Tikrit. Now this boy had 1 hand and 1 foot .He lost them trying to feed his sister after his Family had been killed by One of Saddam's sons .Now he was probably 10-12 years old and he did this for about a year .One day a Guy with a bomb strapped to his body came to the gate and Blew him-self up Killing that little boy,his sister and 20 other people at the gate by throwing himself on a tank NO SOLDIER or AMERICANS hurt . Because that little boy yelled to run because he recognized the bomber and he slowed the man down for us to get away .Now after that we where not allowed to go out of the gate to retrieve our workers .But we were alive and thats all that mattered .

Now i tell you this because that man that had blew himself up WORKED FOR YOU THE GOV. as a TRANSLATOR and had for over a YEAR.

So when you say to me that im supporting terrorist by buying Dinar I TAKE AFFIANCE I HAVE THREE WORDS FOR YOU

M16 MEXICAN BORDER got it good........................have a nice day

[hame55]

That site has made me angry on more than one occasion. I have watched them spew their heathen ilk on more than one occasions. The below is the the authority on US citizens owning Iraqi Dinar. It is controlling in the utmost legal sense.

Posted on Monday, March 22, 2004 7:08:11 PM by chance33_98

New Iraqi Dinar (NID)

Presidential Order 13303 allows US Citizens to invest in the New Iraq. Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen

IRAQ (PRWEB) March 2, 2004 -- Investment in the new Iraq is guaranteed under the Presidential Order 13303 removing sanctions on investment in Iraq. The new order allows for a restructuring of the banking system in Iraq. US citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Business in Iraq.

Iraq has a new currency to replace Iraq’s two currencies, one of which was easily counterfeited and mostly circulated in a single denomination. Banks issue only the new currency and government employees paid in cash will receive their salaries in the new currency. Until January 15, 2004 the old and new currencies will circulate freely at a fixed exchange rate. Exchange between the old and new currencies is conducted at now charge at multiple exchange points around the country.

The other financial market structures are strong:

95 percent of all pre-war bank customers have service and first-time customers are opening accounts daily. Iraqi banks are making loans to finance businesses. The central bank is fully independent. Iraq has one of the world’s most growth-oriented investment and banking laws. The new Iraqi dinar which is printed bu De La Rue company in the US and Great Britian, is valued at just 2 tenths of one cent today. The US treasury has a strong dinar policy and is working with the CPA (Coalition Provisional Authority) to reinstate a strong decentralized banking system in Iraq. By December 2004 there will be six Western Banks in Iraq and six Iraqi Banks outside Iraq in operation. In March Three banks were given licence to operate in Iraq, National Bank of Kuwait, HSBC Bank and Charter bank of England

Furthermore, the Dinar being sold at the currency exchanges is being monitored closely by both the US Securities and Exchanges and of course our dear US Treasury Department. They (Tres. Dept.) have clearly displayed this as you need only think back to the Brad Hubner, Rudolph Conahan situation that has arisen concerning the taking of US currency for seat in a Hedge Fund that would after, paying $750, us for the seat you would then have, I believe, 5 days post RV to send them 1 million dinar for investment in the fund. It is still unclear if they did anything wrong. I believe their intentions were solid.

I would like nothing more than to catch these folks slipping, they come dangerously close to liable in my opinion. If there is one thing I cant stand it's a bunch of smack talking, better than everyone else bankers, yuk'n it up at the expense of hard working folks like ourselves. Trust me when I tell you that I am monitoring that site daily and the attorney is already retained.

Quietlearner

:) Quietlearner

I am continually impressed by your diligence and abilities.

I agree, these people may be propagandizing. How could they counterfeit so many dinar? It would have to be Iraq and the CBI itself doing it for their own nefarious purposes..the ultimate irony and joke on you vets - invest in terror!

[benc]

It's kind of funny how all of this negative publicity on the Dinar has suddenly been showing up in US media as of late..makes me think we're close, that they're trying to keep speculators away/get folks to sell early...thx for the post!

I tend to agree with your thoughts. The media will say what they want to say to get the result they want.

[Scrumdiddles]

Good report. Good stuff to know. We may all end up being labeled as "terrorists." No joke.

Sad but true.

[Quietlearner]

Thanks for the info Nelg.

Also Quiteliearner, I am aware of PO 13303 but am concerned that some criminal minds used it to their advantage. I mean you have to admit, the US isn't the brightest bulb in the bunch here lately.

I cant agree with you more, turn all of us into some sort of conspirators, Fortunately, I am at this point paranoid enough to recall archiving a few precious pieces that would prove hard to explain by this bunch. Let me start by saying the link is provided below. Furthermore, pay close attention to the verbiage in paragraph one line 4 or 5. I have lots of this type of stuff archived all over the world and spread out with 18 other Dinar holders, in 7 Countries, (Cant be to careful now a days ) This was done pre- Dinar Vets.

Quietlearner

No Results Found for ALL words, trying ANY words. Search: iraqi dinar investing

Found 160 documents, showing 1 - 100.

[1-100] [101-160] [Next >>]

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• Iraqi Dinar Investments
  Iraqi Dinar Investments
  ... Dinar Investments Iraqi Dinar Investments Banking, Compliance, ...
  ... , Compliance, Iraqi Dinar Investments Banker Store eCard Exchange ...
  ... Discuss NOW! Iraqi Dinar Investments Question: We have been ...
  ... about purchasing Dinars. Of course, we called our supplier of ...
  http://www.bankersonline.com/bankershotline/artic... • Friday, 9 May 2008, 12:00am GMT
• OFAC
  OFAC
  ... or possession of Iraqi cultural property or other items of ...
  ... with regard to the Iraqi Sanctions Regulations (31 CFR Part 575) and ...
  ... is amending the Iraqi Sanctions Regulations, in light of the ...
  http://www.bankersonline.com/ofac/ofacsummary0730...
• OFAC update 10/1/03
  OFAC update from 10/1/03.
  ... Insititutions" - Iraqi General License 5 First published on ...
  http://www.bankersonline.com/ofac/ofacsummary1001...

http://www.picosearch.com/cgi-bin/ts.pl?index=63070&calln=2&lastq=&sortsel=rel&opt=ALL&allnextany=1&query=iraqi%20dinar%20investing

[WorkerBee]

Quitelearner, I can't access your links. Can you copy and paste that paragraph?

[donnydoright]

I wish you guys had actually READ Executive Order 13303 instead of just taking the Pumpers and Guru's words for it

Executive Order

Executive Order Protecting the Development Fund for Iraq and Certain Other Property in Which Iraq Has An Interest

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act, as amended (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 5 of the United Nations Participation Act, as amended (22 U.S.C. 287c) (UNPA), and section 301 of title 3, United States Code,

I, GEORGE W. BUSH, President of the United States of America, find that the threat of attachment or other judicial process against the Development Fund for Iraq, Iraqi petroleum and petroleum products, and interests therein, and proceeds, obligations, or any financial instruments of any nature whatsoever arising from or related to the sale or marketing thereof, and interests therein, obstructs the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq. This situation constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States and I hereby declare a national emergency to deal with that threat.

I hereby order:

Section 1. Unless licensed or otherwise authorized pursuant to this order, any attachment, judgment, decree, lien, execution, garnishment, or other judicial process is prohibited, and shall be deemed null and void, with respect to the following:

(a) the Development Fund for Iraq, and

( all Iraqi petroleum and petroleum products, and interests therein, and proceeds, obligations, or any financial instruments of any nature whatsoever arising from or related to the sale or marketing thereof, and interests therein, in which any foreign country or a national thereof has any interest, that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of United States persons.

Sec. 2. (a) As of the effective date of this order, Executive Order 12722 of August 2, 1990, Executive Order 12724 of August 9, 1990, and Executive Order 13290 of March 20, 2003, shall not apply to the property and interests in property described in section 1 of this order.

( Nothing in this order is intended to affect the continued effectiveness of any rules, regulations, orders, licenses or other forms of administrative action issued, taken, or continued in effect heretofore or hereafter under Executive Orders 12722, 12724, or 13290, or under the authority of IEEPA or the UNPA, except as hereafter terminated, modified, or suspended by the issuing Federal agency and except as provided in section 2(a) of this order.

Sec. 3. For the purposes of this order:

(a) The term "person" means an individual or entity;

( The term "entity" means a partnership, association, trust, joint venture, corporation, group, subgroup, or other organization;

© The term "United States person" means any United States citizen, permanent resident alien, entity organized under the laws of the United States or any juris-diction within the United States (including foreign branches), or any person in the United States;

(d) The term "Iraqi petroleum and petroleum products" means any petroleum, petroleum products, or natural gas originating in Iraq, including any Iraqi-origin oil inventories, wherever located; and

(e) The term "Development Fund for Iraq" means the fund established on or about May 22, 2003, on the books of the Central Bank of Iraq, by the Administrator of the Coalition Provisional Authority responsible for the temporary governance of Iraq and all accounts held for the fund or for the Central Bank of Iraq in the name of the fund.

Sec. 4. (a) The Secretary of the Treasury, in consultation with the Secretary of State and the Secretary of Defense, is hereby authorized to take such actions, including the promulga-tion of rules and regulations, and to employ all powers granted to the President by IEEPA and the UNPA as may be necessary to carry out the purposes of this order. The Secretary of the Treasury may redelegate any of these functions to other officers and agencies of the United States Government. All agencies of the United States Government are hereby directed to take all appropriate measures within their statutory authority to carry out the provisions of this order.

( Nothing contained in this order shall relieve a person from any requirement to obtain a license or other authorization in compliance with applicable laws and regulations.

Sec. 5. This order is not intended to, and does not, create any right, benefit, or privilege, substantive or procedural, enforceable at law or in equity by a party against the United States, its departments, agencies, entities, officers, employees, or agents, or any other person.

Sec. 6. This order shall be transmitted to the Congress and published in the Federal Register.

GEORGE W. BUSH

THE WHITE HOUSE,

May 22, 2003.

http://georgewbush-whitehouse.archives.gov/news/releases/2003/05/print/20030522-15.html

[Alexyn1006]

Idon't believe this website is related to the media at all. It is a site used by bankers to stay in compliance with Federal Regulations.

If it's accessible to the public, and it's posted online, it's media...even if it's "directions" for banking institutions.

[HopefulTxn]

Presidential Order 13303 allows US Citizens to invest in the New Iraq. Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen

Just a note if you didn't see it, CPA Order 39 was revoked by means of the Iraq Investment Law of 2006 in Article 34 of the law. Link

This is not to state in any way that purchasing IQD is illegal by any means, but the reasons put forth in the article you provided have no bearing on the issue these days.

[Carrello]

Thanks for the info Nelg.

Also Quiteliearner, I am aware of PO 13303 but am concerned that some criminal minds used it to their advantage. I mean you have to admit, the US isn't the brightest bulb in the bunch here lately.

Boy, crazy bunch there in Washington. Today the House passed a bill looensing safety standards on our food, all while the Listeria cantaloupe debacle, the worst food contamination in a decade, is killing people and making others sick. The House bulb is not even on.

[WTX_Danny]

This is from an old SAR report, several years old. FinCen is the LE/Investigations division of the US Treasury. They are watching the dinar trade along with the FBI(market manipulation), not so much the trading of dinar itself, but some of those involved.

[uncirculd]

This is true. If you try to buy more than a million Dinar at one time the seller/dealer cannot sell you more than that in one transaction. Try it. There are ways around it yes, but why take the chance. 2 transactions on different days is perfectly fine. Same day too. Just use different dealers. Just so the FBI & CIA don't make a file on you. Really, look out big brother is watching YOU!

[randalln]

This is true. If you try to buy more than a million Dinar at one time the seller/dealer cannot sell you more than that in one transaction. Try it. There are ways around it yes, but why take the chance. 2 transactions on different days is perfectly fine. Same day too. Just use different dealers. Just so the FBI & CIA don't make a file on you. Really, look out big brother is watching YOU!

I got news for ya if your on the internet YOU HAVE A FILE

[GMartin]

The information you are reading is regarding all currencies and yes they did mention Iraqi Dinar. But there was a fincen webinar a few weeks ago that was public that discussed the new policies regarding currency exchanges. Basically they are holding all currency exchanges for 10 days before dispersing any funding to avoid any potential terrorist activity or planning. They are not calling us terrorists. This regulation was passed in June.

It was posted on this forum before...here is the link

http://treas.yorkcast.com/webcast/Viewer/?peid=dc6ae9061c3a41e6abcd7c0a75c10a171d

[automag]

Did you notice that even in 2005 they hardly mentioned anything about banks....Not sure if anything was mentioned about the banks participating in the scheme. Who am I to question this SARS report but if the banks were selling then they get to join us in court at least IMO.

However..............It quite clearly states Currency in P.O.13303 so with that order as my guide I am legal until otherwise so informed. Besides.... they ain't got enough room in prison for all of us......

[donnydoright]

Did you notice that even in 2005 they hardly mentioned anything about banks....Not sure if anything was mentioned about the banks participating in the scheme. Who am I to question this SARS report but if the banks were selling then they get to join us in court at least IMO.

However..............It quite clearly states Currency in P.O.13303 so with that order as my guide I am legal until otherwise so informed. Besides.... they ain't got enough room in prison for all of us......

I posted PO 13303, can you show me where it says currency?

[HopefulTxn]

Did you notice that even in 2005 they hardly mentioned anything about banks....Not sure if anything was mentioned about the banks participating in the scheme. Who am I to question this SARS report but if the banks were selling then they get to join us in court at least IMO.

However..............It quite clearly states Currency in P.O.13303 so with that order as my guide I am legal until otherwise so informed. Besides.... they ain't got enough room in prison for all of us......

What part of E.O. 13303 are you referring to that 'clearly states' currency? Link to E.O. 13303

E.O. 13303 primarily referred directly to DFI transactions, not the IQD or speculating on the IQD.

E.O. 13315 effectively removed Iraq as a whole from the OFAC list (Link), which coupled with CPA order 39 (which has been revoked) was what currency dealers were using to promote IQD sales.