RBZ Goes After Illegal Forex Dealers

By Lloyd Takawira

The Reserve Bank of Zimbabwe has released a list of individuals it alleges are abusing foreign currency in the country using mobile phone lines and social media for illegal forex dealings and money laundering.

In a name and shame the central bank’s Financial Intelligence Unit said that the said individuals have since been blocked from using their mobile numbers .

“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,” reads the statement.

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

Over the years, the country has battled out extinguish the notoriority of parallel foreign currency exchange rate operators popular , (money changers) .

Speaking to Bustop TV News , Economist , Humphrey Sibanda accused the Reserve Bank of deflation.

“While there is need to weed out economic saboteurs, with this insincerity of going after small fishes, it’s going to be difficult” .

Sibanda argues there are real culprits who are sabotaging the economy.

“There are reals saboteurs, however they are untouchable.”

In 2017 after his inauguration President Mnangagwa released names of companies alleged to have been externalizing money out of the country. However, the list fizzled with time.

[email protected]