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Expert: counterfeit currency invade our markets do not disclose devices only after 5 months of trading
Thursday, February 9, 2012 03:41
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BAGHDAD - Bashir al-Araji
Specialists fear the spread of counterfeit currency in the country, warning of the risk of diffusion heavily on the Iraqi economy and the stability of the local currency exchange rates compared to non-mahram woman.
There are concerns in the domestic market, the existence of gangs began to promote a competent and disposal of counterfeit currency with the high turnout to buy the U.S. dollar in several areas of Iraq, especially in the capital Baghdad and Basra after the United States to impose economic sanctions on Iran.
Experts say the law that the vast majority of Iraqi funds counterfeit comes from outside the country, because the law punished those involved in printing and distribution on the basis that they (gang) and therefore the penalties up their right to life in prison compared to punish the individual who promotes the currency from abroad without interfering in the process of printed and distributed in the markets.
Mohammed Waleed, a legal expert said, "The Iraqi Penal Code No. 111 of 1969 punished the fraud rings to life in prison without the convicted is subject to the mitigation of punishment, so we find that some of the promotion process Astshl currency from abroad only because the penalty is less than that." He said Walid in an interview for "world" that "the process of counterfeiting in the country is not difficult, the fact that the potential is now available in terms of a printing press and modern printers skilled and paper varied, but it is dangerous, the fact that all participants in the process of fraud is considered a gang, and the death gang most of the crime individual, so the fake money coming from Iran are very popular by the weak people and criminals who are favored at the expense of the country's economy. "
Although the impact of the spread of counterfeit currency in Iraq does not appear visible during the period of a few, but the negative effects on the economy appear after the passage of time by creating a state of lack of confidence in local currency and foreign situation of mistrust generate business environment and economic unhealthy, which calls to a number of measures to prevent the spread of counterfeit currency.
In this regard, said the economist Majid picture, "It is difficult to control the spread of counterfeit currency, Vhras border and the central bank can not stop the flow of money unless you activate the economic security which assume this task, Currencies counterfeit destroy the economy of increasing the supply of local currency in addition to create a state of lack of confidence in Iraqi dinars. " He said the picture in an interview for "the world" yesterday he was "under the current circumstances and economic chaos and lack of security and political stability, it is not possible to reduce the circulation of counterfeit currency." He continued that "what is in the currencies of a forged neatly confirms that there are governments, states, and points of influential behind the fraud that, because the potential of local limited, however, this type of currency pass for a temporary period to dealers by or even on detectors fake stretch of 3-5 months but he soon loses its features Vinkhv. "
And confirms the traders in the local market that it is now difficult to distinguish between genuine and counterfeit currency, because the media has become an elaborate fraud, which calls for governmental action deterrent does not stop at tougher penalties on those involved in judicial fraud.
And on measures to prevent the spread of counterfeit currency and prevent the introduction into Iraq, said the economist, "The use of coins and the introduction of modern technology in the issuance of paper currency and credit cards, as well as tighter security controls on the sources of entry of the currency and the fight against corruption, which facilitates fraud, conduct of the currency, all these things challenge the spread of counterfeit currency. "
The CBI said earlier that the control and follow-up security led to the arrest of rigging 1297, accusing the local currency and foreign.
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Thursday, February 9, 2012 03:41
Hits: 4
BAGHDAD - Bashir al-Araji
Specialists fear the spread of counterfeit currency in the country, warning of the risk of diffusion heavily on the Iraqi economy and the stability of the local currency exchange rates compared to non-mahram woman.
There are concerns in the domestic market, the existence of gangs began to promote a competent and disposal of counterfeit currency with the high turnout to buy the U.S. dollar in several areas of Iraq, especially in the capital Baghdad and Basra after the United States to impose economic sanctions on Iran.
Experts say the law that the vast majority of Iraqi funds counterfeit comes from outside the country, because the law punished those involved in printing and distribution on the basis that they (gang) and therefore the penalties up their right to life in prison compared to punish the individual who promotes the currency from abroad without interfering in the process of printed and distributed in the markets.
Mohammed Waleed, a legal expert said, "The Iraqi Penal Code No. 111 of 1969 punished the fraud rings to life in prison without the convicted is subject to the mitigation of punishment, so we find that some of the promotion process Astshl currency from abroad only because the penalty is less than that." He said Walid in an interview for "world" that "the process of counterfeiting in the country is not difficult, the fact that the potential is now available in terms of a printing press and modern printers skilled and paper varied, but it is dangerous, the fact that all participants in the process of fraud is considered a gang, and the death gang most of the crime individual, so the fake money coming from Iran are very popular by the weak people and criminals who are favored at the expense of the country's economy. "
Although the impact of the spread of counterfeit currency in Iraq does not appear visible during the period of a few, but the negative effects on the economy appear after the passage of time by creating a state of lack of confidence in local currency and foreign situation of mistrust generate business environment and economic unhealthy, which calls to a number of measures to prevent the spread of counterfeit currency.
In this regard, said the economist Majid picture, "It is difficult to control the spread of counterfeit currency, Vhras border and the central bank can not stop the flow of money unless you activate the economic security which assume this task, Currencies counterfeit destroy the economy of increasing the supply of local currency in addition to create a state of lack of confidence in Iraqi dinars. " He said the picture in an interview for "the world" yesterday he was "under the current circumstances and economic chaos and lack of security and political stability, it is not possible to reduce the circulation of counterfeit currency." He continued that "what is in the currencies of a forged neatly confirms that there are governments, states, and points of influential behind the fraud that, because the potential of local limited, however, this type of currency pass for a temporary period to dealers by or even on detectors fake stretch of 3-5 months but he soon loses its features Vinkhv. "
And confirms the traders in the local market that it is now difficult to distinguish between genuine and counterfeit currency, because the media has become an elaborate fraud, which calls for governmental action deterrent does not stop at tougher penalties on those involved in judicial fraud.
And on measures to prevent the spread of counterfeit currency and prevent the introduction into Iraq, said the economist, "The use of coins and the introduction of modern technology in the issuance of paper currency and credit cards, as well as tighter security controls on the sources of entry of the currency and the fight against corruption, which facilitates fraud, conduct of the currency, all these things challenge the spread of counterfeit currency. "
The CBI said earlier that the control and follow-up security led to the arrest of rigging 1297, accusing the local currency and foreign.
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