Illegal forex deals: RBZ releases more names

by | Oct 6, 2021 | Crime & Courts | 0 comments


Mako Jerera

The Reserve Bank of Zimbabwe has named 47 more people identified by its Financial Intelligence Unit as being heavily involved in illegal foreign currency trading.

According to a statement by Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangundya, most of these people use social media to advertise their illegal services.

“In addition to the 30 individuals blacklisted for advertising and facilitating illegal foreign exchange transactions and money laundering activities through social media, as published in the Press Statement of 28 September 2021, the 47 individuals listed below have also been blacklisted and barred from accessing financial and mobile telecommunication services for the same reasons,” said Dr Mangundya.

As is with the last group, the listed are going to be suspended from the national telecommunications network.

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

FIU has thanked the public for releasing information aiding their tracking of the forex culprits.

Information, Publicity and Broadcasting Services Permanent Secretary Mr Nick Mangwana sounded a warning on his Twitter, warning those who are involved to desist from the behaviour.