Iraqi Integrity Commission seizes the embezzlement of 14 billion dinars ($9 M)

“Ten employees involved in the embezzlement operation were arrested in several different branches of Rafidain Bank.”

Dler S. Mohammed 2022/08/22 12:55

Logo of the Iraqi Integrity Commission's Investigation Department. (Photo: Iraqi Integrity Commission website)

Iraq Money laundering in Iraq Iraqi Integrity Commissionj Rafidain bank Iraq

ERBIL (Kurdistan 24) – The Iraqi Integrity Commission's Investigation Department announced that it had seized fraud and embezzlement in a government bank in Baghdad, indicating that the total embezzled funds amounted to 14,000,000,000 Iraqi dinars (Approximately $9.5 M).

“The seizure operation was carried out by the Baghdad Investigation Directorate team, based on a judicial seizure memorandum,” read the Commission's Investigation Department statement on Monday. “After investigating, the team could detect fraud and embezzlement in Al-Rafidain Bank - Al-Mustansir Branch.”

The Commission's Investigation Department revealed, “Ten employees involved in the embezzlement operation were arrested in several different branches of Rafidain Bank, including those in Al-Rasheed Street, Karada Maryam, Al-Hussainiya, and the one near the International Railway Station.”

“Seizure reports were organized and presented, along with the suspects, to the judge of the Rusafa Investigation Court, which is specialized in cases of integrity, money laundering, and economic crimes,” read the statement. “The Judge of Rusafa decided to arrest them by Article 316 of the Iraqi Penal Code.”

On August 15, the head of the Iraqi Integrity Commission Jawad Ala’a Al-Sa’idi called for forming a national anti-corruption bloc to fight corruption in Iraq.

In 2016 the European Union identified Iraq as a problematic jurisdiction regarding money laundering. However, in January, the European Union removed Iraq from its list of countries at high risk for money laundering.