Tehran police break up a counterfeit dinar ring ahead of Arbaeen; 5,350 fake dinars seized

Eghtesad Online, citing the ISNA news agency on Monday, 27 July 2026 (5 Mordad 1405), reported that Colonel Moslem Mirahmadi, acting head of the anti forgery and fraud division of the Greater Tehran criminal investigation police, announced the arrest of members of a four person ring that had been selling counterfeit currency by exploiting rising demand for the Iraqi dinar ahead of Arbaeen.

He said that as pilgrimage travel increases, demand for the Iraqi dinar has risen, creating an opening for forgers. Acting on public tip offs, detectives arrested four members of the ring in a coordinated operation, and a search of their hideout turned up 5,350 counterfeit dinars. The suspects used forged identity documents and attractive prices to win pilgrims' trust, and have been handed to detectives under judicial order for further investigation.

Police urged citizens to buy foreign currency only from authorised outlets and to avoid purchasing from unknown individuals. Arbaeen lifts seasonal demand for the Iraqi dinar in Iran's currency market every year.