Iraq’s Federal Board of Supreme Audit has unearthed an extensive corruption plot involving the illicit acquisition of US currency by over 151,000 citizens.
Startlingly, these individuals secured dollars at the official state rate for travel reasons but never actually traveled, earning them the moniker ‘ghost travelers’ within the country.
The corruption encompasses a web that involves employees of Iraq’s Central Bank, private banks, currency exchange establishments, and tourism firms.
As inquiries progress, the depth of collaboration among key figures in Iraq’s financial sector becomes increasingly evident, prompting urgent appeals for accountability and broad reforms to protect the nation’s economic stability.
As detailed in exclusive reports by Al-Alam Al-Jadeed (“The New World”), an Iraqi media outlet, the total sum implicated in this deceptive scheme surpasses $600 million.
Although ostensibly earmarked for travel costs, these funds were diverted to the underground market, capitalizing on the price gap between official and illicit exchange rates.
