The suspect is seen handcuffed after his arrest in Erbil for attempting to circulate 25 million dinars in counterfeit currency. (Photo: Screenshot from a video released by the Erbil Security Directorate)
Totaling 25 million IQD
Man arrested in Erbil for attempting to circulate counterfeit money
ERBIL — Security forces in Erbil arrested a man accused of attempting to circulate counterfeit Iraqi currency totaling 25 million dinars ($16,667), according to the Erbil Security Directorate.
Ardalan Fatih, a spokesperson for the directorate, told 964media Saturday that the suspect, identified by his initials M.K.M., was apprehended following a court order as part of an ongoing investigation. The counterfeit bills were in 25,000-dinar ($17) denominations.
The suspect, a resident of Erbil, allegedly smuggled the forged currency into the Kurdistan Region from outside its borders with the intention of introducing it into the local market. “He was caught before he could circulate the fake currency in Erbil’s markets,” Fatih said.
Fatih also said the man had previously been involved in similar counterfeit operations.
After the fall of the former Baath regime in 2003, the Coalition Provisional Authority issued a new Iraqi dinar that included denominations of 250, 1,000, 5,000, 10,000 and 25,000 dinars. In 2004, a 500 dinar note was added to the series. In 2015, the Central Bank issued a new 50,000 dinar ($33) note, which remains the highest denomination.
