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Cash-strapped Iran-backed armed militias in Iraq, trained and funded by Iranian Revolutionary Guards (IRGC) are becoming increasingly involved in loan-sharking and other illegal activity such as seizure and occupation of Sunni and Christian houses, as well as extortion of farmers and truck drivers.
The rise of various criminal activity among these IRGC-backed militias coincides with Iran’s economic crisis due to the mismanagement of the country’s resources, coupled with heavier US sanctions, which has rendered Iran unable to pay its armed fighters across the region as it used to.
The Iraqi Hezbollah and Harakat al-Nujaba, with the help of local banks and financial companies, offer loans with unusually high interest rates to employees and retirees and use home appliance stores or private banks as a front for their schemes.
Deception of destitute workers and retirees begins with advertising on social media. The person receiving the loan will be promised an amount according to their income, but on the day of receiving the loan a large amount will be deducted from them and the monthly and total installments will be much higher than banking rules.
These Iran-backed Iraqi militias have modeled their schemes based on methods used by Hezbollah in Lebanon which has been operating via its Qard al-Hasan Association with ties to Lebanese Banks for the past three decades.
This year, a group called Spider-Z hacked Hezbollah’s Qard al-Hasan Association and gained access to information from more than 400 thousand customers, also revealing banking activities of Iranian Supreme Leader Ali Khamenei and the Yemeni Houthis.
Following the new round of US sanctions against the Islamic Republic of Iran, militant groups in Iraq are no longer receiving the same funding as in the past and are now financing their activities in ways that are deemed Haram within the Islamic teachings.
Source: Fikra Forum
Also read: Iran’s Riaisi Appoints More IRGC Commanders To Civilian Positions