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Iraq's central bank must address continued risks of the misuse of dollars at Iraqi commercial banks to avoid new punitive measures targeting the country's financial sector, a top U.S. Treasury ...
Dozens of people protested in front of the Central Bank of Iraq in Baghdad and bank owners called for official action to stem a sharp increase in the dollar exchange rate Wednesday, after the ...
The Iraqi dinar [a] (code: IQD) [2] is the currency of Iraq. The Iraqi dinar is issued by the Central Bank of Iraq (CBI). On 7 February 2023, the exchange rate with the US Dollar was US$1 = 1300 dinars. [3]
In July 2008, the United States Department of Justice investigated around 900 cases of alleged fraud committed by contractors. [1] Similarly, the Defense Contract Audit Agency uncovered $10 billion in questionable Iraq contracts, [1] and a US audit found that the occupation authority had lost track of reconstruction funds totalling nearly $9 billion.
In July 2003, the CPA started to replace the old Iraqi dinars with portrait of Saddam Hussein with a new currency. On August 27, 2003, Custer Battles, LLC., signed a Dinar Exchange Contract with the CPA to construct and operate three money exchange facilities, in Baghdad, Mosul, and Basra. It was a Cost-Plus contract with reimbursement for ...
The scam then becomes an advance-fee fraud or a check fraud. A wide variety of reasons can be offered for the trickster's lack of cash, but rather than just borrow the money from the victim (advance fee fraud), the con-artist normally declares that they have checks which the victim can cash on their behalf and remit the money via a non ...
Endemic corruption pervades Iraq's oil and gas sectors, which still accounts for more than 99 percent of the country's exports and 85 percent of the government's budget. [2] The Iraqi economy is predominantly a cash economy, making it almost impossible to trace the amount or the path the money follows. [3]
The 67-year-old will be sentenced for fraud at Southwark Crown Court on Tuesday, after admitting that an agent acting on his behalf had been cold-calling potential clients in Iraq.