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Misuse of electronic payment cards
January 25, 2024
Based on the supervisory and regulatory role of this bank, it has recently been observed that the misuse of electronic cards outside Iraq and during short periods, which affects and harms the financial and banking sector and its customers in the Republic of Iraq, was revealed by the reports of the competent security authorities and the supervisory procedures of this bank and the Anti-Money Laundering and Counter-Terrorism Financing Office.
The reports showed the use of employees’ nationalized salaries cards, retirees’ cards, and social care.
A number of cards were referred to the Supreme Judicial Council for the purpose of taking legal measures in accordance with the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the instructions issued pursuant thereto, and referring public sector employees to the Integrity Commission. For the purpose of taking the necessary action by them.
This bank also warns beneficiaries of electronic payment services of the fake pages that have spread recently that lure citizens (taking advantage of the citizen’s lack of awareness) to obtain their card information in exchange for their promises to provide services that are not true, and that obtaining services is through the official applications of the issuing authority. For the card (bank, electronic payment company) exclusively.
From the above, this bank confirms its keenness to provide all appropriate tools for the purpose of facilitating financial operations for citizens, which maintain the integrity of the financial operations of the Iraqi financial sector.
Central Bank of Iraq
information Office
1/25/2024
https://cbi.iq/news/view/2508
January 25, 2024
Based on the supervisory and regulatory role of this bank, it has recently been observed that the misuse of electronic cards outside Iraq and during short periods, which affects and harms the financial and banking sector and its customers in the Republic of Iraq, was revealed by the reports of the competent security authorities and the supervisory procedures of this bank and the Anti-Money Laundering and Counter-Terrorism Financing Office.
The reports showed the use of employees’ nationalized salaries cards, retirees’ cards, and social care.
A number of cards were referred to the Supreme Judicial Council for the purpose of taking legal measures in accordance with the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the instructions issued pursuant thereto, and referring public sector employees to the Integrity Commission. For the purpose of taking the necessary action by them.
This bank also warns beneficiaries of electronic payment services of the fake pages that have spread recently that lure citizens (taking advantage of the citizen’s lack of awareness) to obtain their card information in exchange for their promises to provide services that are not true, and that obtaining services is through the official applications of the issuing authority. For the card (bank, electronic payment company) exclusively.
From the above, this bank confirms its keenness to provide all appropriate tools for the purpose of facilitating financial operations for citizens, which maintain the integrity of the financial operations of the Iraqi financial sector.
Central Bank of Iraq
information Office
1/25/2024
https://cbi.iq/news/view/2508
