Baghdad: The Security Media Cell (SMC) announced on Monday the dismantling of one of the largest cyber fraud and extortion networks in Iraq. ‘In a swift operation characterized by precision and high professionalism, and based on accurate intelligence and diligent field and digital surveillance, the Federal Intelligence and Investigations Agency was able to thwart a dangerous criminal plot and dismantle one of the most sophisticated networks involved in financial fraud and the theft of electronic wallets,’ said Lieutenant General Saad Maan, head of the Security Media Cell in a statement received by the Iraqi News Agency – INA.

According to Iraqi News Agency, the Intelligence Agency was able to apprehend the accused, Murtadha Abbas Mohsen Al-Namash (the mastermind), and the members of his criminal network after tracking their digital footprint and thwarting them in a well-executed operation before they could carry out the rest of their plans. Ma’an confirmed the “use of deception and extortion tactics through impersonating fictitious companies to sell US dollars to citizens and travelers via social media and compromising their financial assets.”

The dismantling of the network’s digital empire was comprehensive, targeting various platforms exploited for fraud and victimizing unsuspecting individuals. This included neutralizing a network of 5,000 subscribers on the OKX platform, disabling a channel with 1,800 subscribers on the Binance platform, terminating a channel with 1,400 subscribers on the Bybit platform, and closing a channel with 10 subscribers on the MEXC platform.

He noted that “the necessary legal measures have been taken against the perpetrators, and the accused has been referred to the judicial authorities and detained in accordance with the provisions of Article (456) of the Penal Code to receive his just punishment.”