Shafaq News/ On Monday, The Central Bank of Iraq (CBI) imposedpenalties on 49 companies involved in money laundering and issued a warning tothe public about the rise of fake firms offering trading and investmentopportunities.
In a statement, the CBI said that names of fake companies,which claim to have branches in Kirkuk, Mosul, Erbil, and Sulaymaniyah, arecirculating on social media. “These companies are exploiting the name of theCentral Bank and claiming to be officially licensed to invest and trade indigital currencies, stocks, gold, and oil.”
The CBI clarified that it does not issue licenses tocompanies trading in stocks, metals, or cryptocurrencies, adding that it hastaken all legal measures against such fake companies.
Stressing the importance of taking legal action andreporting to the relevant authorities, the bank urged the public to verify thenames of non-banking financial institutions licensed by the bank, which arepublished on its official website, before making any transfers.