Iraq Arrests Five in Baghdad over Illegal Dollar Trading Network

The Federal Intelligence and Investigation Agency of Iraq’s Ministry of Interior announced the dismantling of a network involved in foreign currency speculation and unlicensed money exchange and transfer activities in Baghdad’s Rusafa district.

According to the agency, five suspects were arrested for conducting domestic and international money transfers and exchange operations without official authorization. The suspects allegedly used social media groups to manage their financial transactions and carry out dollar speculation outside the legal framework.

Authorities said approximately $240,000 in cash was seized from the suspects, along with several mobile phones allegedly used in their financial activities.