Local
The Federal Intelligence and Investigation Agency announced on Saturday the dismantling of an organized network involved in dollar smuggling and money laundering in Najaf Al-Ashraf province. Security forces successfully seized substantial amounts of money exceeding half a million US dollars in the possession of the network members, as part of efforts to combat economic crime. In detail, the Agency reported that its specialized detachments, after intensifying their intelligence efforts and continuous monitoring of currency smuggling and speculation networks, as well as money laundering operations, managed to thwart the activities of this network. The group had been operating under the guise of fictitious exchange companies within the province. Information revealed that these companies exploited outlet licenses to collect dollars from exchange shop owners, citizens, and commercial establishment owners. Furthermore, the Agency stated that this qualitative operation followed the receipt of precise intelligence information revealing the presence of disguised companies that were executing illegal financial transfers violating established regulations, both domestically to the Kurdistan Region and other provinces, and internationally. Based on this information, and after meticulous follow-up and verification of its accuracy, proper judicial approvals were obtained, and a task force was formed under direct supervision. A precise ambush was set up, coinciding with the monitoring of a financial operation being conducted by these dummy companies. The raid resulted in the apprehension of several suspects after targeting two companies. Regarding the outcome of the operation, the Agency disclosed the seizure of a large sum of money, amounting to 55 bundles, equivalent to 550,000 US dollars. Additionally, a quantity of gold and silver jewelry was confiscated, along with several computers and devices used in their illicit activities. The Agency affirmed that the suspects, following in-depth interrogation, explicitly confessed to the activities attributed to them. Necessary legal procedures have been duly taken against them, under the supervision of the competent judicial authority, for their referral to justice.
