Iraq arrests airport passenger with 113 bank cards

BAGHDAD — Iraqi National Security officers arrested a suspect at Baghdad International Airport on suspicion of money smuggling, seizing 113 electronic payment cards before the individual could leave the country, officials said Saturday.

The National Security Service said in a statement that the operation was carried out in coordination with the General Customs Authority, following an intelligence-led investigation.

The suspect was intercepted before departure and found in possession of 113 bank cards, several national ID cards, and mobile SIM cards. Authorities said the cards were allegedly intended for use in illegal financial activities. The suspect has been referred to the judiciary for further investigation and legal action.

The National Security Service said it continues to monitor financial crimes at airports and border crossings.

In Iraq, a growing scheme has emerged that exploits the gap between the official exchange rate of 1,300 Iraqi dinars per U.S. dollar and the higher parallel market rate of around 1,500 dinars. Participants load Iraqi bank cards with large sums of dinars, travel abroad to withdraw U.S. dollars at the official rate, then return to Iraq to sell the dollars on the black market for a profit.

Organized networks are known to purchase or rent bank cards, send couriers abroad to withdraw cash, and profit from the rate difference. Authorities have warned that the practice destabilizes Iraq’s financial system and worsens the exchange rate disparity.

On Nov. 20, 2023, the Central Bank of Iraq issued a warning against the misuse of electronic payment cards, saying violators would face legal consequences under the Anti-Money Laundering and Counter-Terrorism Financing Law No. 39 of 2015.

On Feb. 4, 2025, the Kurdistan Region Security Agency also issued a warning to travelers, advising them not to carry multiple bank cards or trade them, noting that violators could be prosecuted under anti-money laundering laws.