More than $5 million illegally transfered

Iraqi intelligence agents raid money transfer company

BAGHDAD, December 27 — The intelligence division of the Iraqi Ministry of Interior announced on Wednesday that agents had arrested of the owner of a company for unlawfully transferring $5 million outside of Iraq, in violation of financial regulations.

A statement by the Intelligence Agency read:

Based on precise intelligence, a dedicated intelligence team was immediately formed by the Directorate of Organized Crime Counteraction at its headquarters and branches in both Karkh and Rusafa districts of Baghdad to raid a fraudulent money transfer company.

Upon inspection and investigation, it was revealed that the owner of the fake company had illegally transferred an amount of money in excess of $5 million out of Iraq. Acting in accordance with legal approvals, the suspect was apprehended and detained under Article 36 of the Anti-Money Laundering and Terrorism Financing Law.

The Intelligence and Investigations Agency of the Federal Police urges citizens to report money laundering, human trafficking, and artifact smuggling crimes by calling the toll-free hotline at 144.