The Reserve Bank of Zimbabwe’s (RBZ) Financial Intelligence Unit has identified individuals who have been using mobile phone lines and social media for illegal forex dealings (dealers) and money laundering.
The full statement by the Reserve Bank of Zimbabwe on this issue reads as follows:
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.Huawei mate 20 liteUS $134.99 HarareGAZA CELLPHONE FLASHING AND REPAIRS,WE ALSO BUY AND SELL,SWAP DEAL2US $5.00 HarareRedmi Mi 11 LiteUS $350.00 HarareMbudzi DzeAppUS $35.00 Harare
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.
RBZ on Twitter
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.
The RBZ didn’t have to list the ID numbers of those suspected
Announcing that there are people who have been found to be abusing the litany of the RBZ rules on forex trading is one thing. However, listing the phone numbers of those people and their ID numbers is something else entirely.
That, in my opinion, is a step too far by the central bank and for the privacy of those people (regardless of the charges), we will not list that information here.
Why both the Reserve Bank of Zimbabwe and the Postal and Telecommunications Regulatory Authority (POTRAZ) chose to use the privilege they have to sensitive information to needlessly expose citizens is beyond me.
This baffling move can easily be interpreted as a scare tactic and if that is indeed the case then they have further eroded the little trust that Zimbabweans have in the system.
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