RBZ names and shames illegal money dealers

RBZ names and shames illegal money dealers
The Reserve bank of Zimbabwe (RBZ) in conjunction with the Financial Intelligence Unit (FIU) has exposed mobile phone and social media platform abusers who are involved in illicit foreign currency dealings and money laundering activities.
Apex bank Governor, Dr John Mangudya, issued a statement today publicizing the list of identified ‘culprits’ whose operations are blamed for driving and facilitating illegal foreign exchange transactions and money laundering activities.

In a press statement, RBZ  issued measures against the illegal money dealers.

The FIU has since instructed banks to freeze any accounts that were being used by the accused individuals. The named individuals have with immediate effect been banned from accessing any financial services for 2 years.

In a press statement, RBZ  issued measures against the illegal money dealers.

“MEASURES AGAINST INDIVIDUALS ABUSING MOBILE PHONE SERVICES AND SOCIAL MEDIA TO PROMOTE AND FACILITATE ILLEGAL FOREIGN EXCHANGE TRANSACTIONS AND MONEY-LAUNDERING ACTIVITIES

The Financial Intelligence Unit (FIU) has identified individuals listed hereunder who are abusing mobile telecommunications services and other social media platforms to promote and facilitate illegal foreign exchange transactions and money laundering activities.

The FIU has instructed banks, mobile money operators, and other financial service providers to identify and freeze any accounts operated by these individuals and, further, to bar them from accessing financial services for a period of two years, with immediate effect.

The FIU has also requested the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) to bar the said individuals from operating mobile phone lines.

The FIU, in collaboration with law enforcement agencies, will continue to monitor various social media and bank accounts to identify and take action against perpetrators of illicit dealings.

Over and above the corrective measures of barring the delinquent individuals from accessing banking and financial services and operating mobile phone lines, the FIU has forwarded their names and particulars to law enforcement agencies for prosecution.

Members of the public who have information that may assist in identifying more perpetrators are urged to contact the FIU on WhatsApp numbers 0714039897 or 0780434475.”

Dr Mangudya said further corrective measures were being taken to bar the ‘delinquent’ individuals from accessing banking and financial services and operating mobile phone lines.