The Central Bank of Iraq decided, on Monday, to punish 49 companies involved in “money laundering”, and warned against fictitious trading and investment companies.
The bank directed banks not to allow the 49 sanctioned companies to enter into external financial transfer channels.
In this context, the Central Bank warned citizens of the existence of fictitious electronic trading companies.
The bank said in a statement received by Shafaq News Agency, “There are fictitious companies for electronic trading in stocks that claim to be licensed by the bank. The bank clarifies that it does not grant a license to companies trading in (stocks, metals and cryptocurrencies), noting that it has taken “all legal measures against such fictitious companies.”
The bank pointed out that “some pages and posts on social media sites have circulated the names of fictitious companies that exploit the name of the Central Bank and claim that they are official Iraqi trading companies licensed by it for the purpose of investing and trading in digital currencies, stocks, gold and oil by broadcasting fake videos and posts, and profits are withdrawn through wallets or delivered to people according to their claims, noting that these companies claim to have branches in the governorates of Kirkuk, Mosul, Erbil and Sulaymaniyah.”
The bank stressed the necessity for “victims of these fictitious companies to take legal action against them and notify the relevant authorities of this, calling on the public, before carrying out any transfer operation, to review the names of non-banking financial institutions licensed by it and published on its official website.”
