Agents bust currency exchange ring in Baghdad

BAGHDAD, November 28 — Iraq’s intelligence agency said on Tuesday its officers carried out a raid on a currency exchange company in the Karrada area of the capital, Baghdad, resulting in the arrest of five suspects accused of manipulating dollar exchange rates.

A statement from the Ministry of Defense revealed:

The arrests were part of a series of special operations by the General Directorate of Intelligence and Security. The gang was allegedly involved in smuggling and speculative activities related to the dollar, including unauthorized transactions contrary to the instructions of the Central Bank of Iraq. Following precise information about these activities, intelligence units in Baghdad obtained judicial approvals, raided the currency exchange company, and apprehended the suspects. They are now handed over to the relevant authorities for legal proceedings.