The Central Bank of Iraq issued a public warning after observing the circulation of foreign banknotes, including notes withdrawn from circulation and counterfeit notes, which fraudsters use to lure citizens into exchanging them for Iraqi dinars at inflated values, and it urged the public and relevant security and supervisory authorities to follow up on these cases, avoid dealing in such notes, and focus on Iraqi banknotes and those handled through the Central Bank of Iraq and the banking system.
Central Bank of Iraq 2025-04-22
Central Bank of Iraq warns against exchange scams involving withdrawn or counterfeit foreign banknotes
The Central Bank of Iraq issued a warning about the circulation of withdrawn and counterfeit foreign banknotes used by fraudsters to exchange for Iraqi dinars at inflated values, urging the public and authorities to avoid such notes and focus on those handled through the Central Bank and banking system.