Central Bank of Iraq Warns about Fraudulent Banknotes

The Central Bank of Iraq (CBI) has issued a warning to the public regarding the circulation of foreign banknotes - including authentic, withdrawn, and counterfeit currency - used by fraudsters to deceive citizens.

According to the CBI, criminals lure individuals into exchanging these notes for Iraqi dinars at inflated rates under the false promise of exceptional investment returns. It gave examples of Venezuelan and Belarusian currencies.

The bank urges citizens and relevant security and regulatory authorities to remain vigilant and avoid dealing with any foreign notes outside the officially recognised currencies handled by the central bank and licensed banks.