A high-level scandal affecting senior government officials and government employees in Iraq, and after 3 years of investigations, revealed the largest embezzlement in funds involving Iraqi government banks, worth nearly $700 million in public funds.

The Iraqi Integrity Commission, which is a government body dealing with the fight against corruption, revealed on Thursday that an investigation team back in 2019 found "embezzlement of a large amount of public funds, through forgery, misrepresentation, manipulation, money laundering, abuse of office, manipulation of restrictions Banking and the introduction of counterfeit balances in customer accounts.

Iraq is ranked 16th on the list of the most corrupt countries in the world, according to Transparency International.