Clamping down on an Iraqi fraud network operating against Lebanese banks is a major accomplishment that has had its positive effects on the Lebanese financial market, especially in light of the pledges that had been made by the General Director of Lebanon’s General Security, Abbas Ibrahim, to protect the Lebanese from such crimes.

Consequently, following thorough coordination between the General Security and under the close supervision of General Ibrahim and the Iraqi intelligence, as well as in the wake of several visits by Lebanese officers to Iraq, the authorities have discovered a mafia operating against Lebanese banks.

The latest transaction in this context was an attempted fraud against Audi bank, which aimed in particular to tarnish its image, as well as the reputation of the Lebanese banking sector, and to undermine this pillar of the Lebanese economy.

The president of the Association of Lebanese Banks, Joseph Torbey, will hold a press conference next Thursday, to discuss the details of this case.

For its part, the Iraqi intelligence has issued a statement in which it announced the discovery of the aforementioned mafia. The statement said that as part of thorough coordination and joint action between the Republic of Iraq and the Lebanese Republic in several areas, including security issues, the Iraqi Intelligence, in coordination with the Lebanese General Security, has managed to discover a fraud network that resorts to misinformation in order to blackmail some Lebanese banks.

“The members of this mafia had claimed to possess papers that prove their possession of millions of dollars deposited in these banks. These criminals have even filed complaints against some banks, and lately perpetrated a fraud attempt against Audi bank. Subsequently, investigations have proven that the documents submitted by the mafia had been forged, “the statement added.

“Several members of this gang have been arrested while the security apparatuses are pursuing others,” the statement concluded.

Source: NNA