By John Lee. The Central Bank of Iraq (CBI) has warned citizens of fraudulent schemes involving counterfeit and non-circulating banknotes designed to defraud victims for financial gain. In a statement, the CBI outlined several common methods currently observed in Iraq: "$1,000,000" banknotes sold as legal tender, despite being commemorative notes with no monetary value. The […]
By John Lee. The Central Bank of Iraq (CBI) has held a three-day training workshop in Erbil on the "Core Standards for Detecting Counterfeit Currency," in collaboration with its branch office in the Kurdistan Region. Organised by the CBI's Banking Studies Center, the workshop runs from 1st to 3rd July 2025 and includes participation from […]
By John Lee. 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of Iraq (CBI) has issued a warning to the public regarding the circulation of foreign banknotes - including authentic, withdrawn, and counterfeit currency - used by fraudsters to deceive citizens.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 […]
