The Kurdistan Region Security Agency (Asayish) arrested a three-member counterfeit currency ring on Friday night following an armed clash. 

The Asayish announced on Saturday that the Erbil Security Directorate launched a rigorous tracking and surveillance operation after gathering intelligence on the network. 

According to the agency, the suspects opened fire on security forces during their arrest near the Ashti sub-district at 8:55 PM on Friday, wounding three personnel.

Social Media Armed Robbery Suspects Detained 

The agency stated that the suspects used social media platforms, including TikTok and Snapchat, to advertise counterfeit money for sale.

"During transactions, they deceived individuals and used armed force and threats to rob them of their money," the statement clarified. 

The suspects remain in custody under Articles 406 and 56 of the Penal Code while the investigation continues.

KRG Bans Unregulated Digital Currencies 

The operation follows a recent Kurdistan Regional Government (KRG) Ministry of Interior directive aimed at curbing these rising social media fraud networks.

The ministry issued a total ban in early May on unregulated digital currencies and foreign exchange markets following a surge in citizen complaints regarding financial scams.

Authorities warned that fraudulent rings frequently exploit platforms like TikTok and Snapchat for counterfeit cash operations, and any group found violating the directive will face immediate closure and severe prosecution.