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Crime Reporter
POLICE and the Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) have launched a fresh crackdown against illegal currency traders across the country.
Under the joint operation, scores of money changers were this week arrested, with most still under interrogation and vetting pending court appearances.
National police spokesperson Commissioner Paul Nyathi confirmed the arrests.
“This is an ongoing joint operation being conducted by police and the RBZ’s Financial Intelligence Unit. People should engage in lawful transactions and we are targeting those who are illegally trading in foreign currency and businesspeople transacting using exchange rates which are above the official rate,” he said.
He said they were also targeting money changers operating under the guise of selling airtime.
“We also have some supermarkets, pharmacies and small businesses which are also using exorbitant rates when transacting.
“Certainly, action will be taken against all those involved in such activities or anyone using social media to illegally trade in foreign currency,” Comm Nyathi said.
Police appealed for the public to report illegal money changers to the National Complaints Desk on telephone number (0242) 703631 or WhatsApp number 0712 800 197.
Under the first phase of the operation, authorities had by May, arrested 224 illegal money changers while the FIU froze 90 bank accounts.
Apart from freezing bank accounts, the FIU also fined more than 40 people who were found violating the Exchange Control Act.
The joint operation was undertaken following the launch of the Zimbabwe Gold (ZiG) currency on April 5.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube recently reaffirmed Government’s commitment to deal with people undermining the new currency.
Fifty-one contractors were on Wednesday blacklisted by the Government for unlawfully diverting payments they received for supplying goods and services to the illegal foreign currency parallel market.
Prof Ncube said the backlisting entailed that the companies would be barred from being suppliers or service providers to Government, as well as Government agencies, and this extends to other companies connected with the directors.
“This action has been taken in pursuit of Government’s continued efforts to improve economic stability and restore confidence in the financial system and provide a conducive business environment,” he said.
Online Reporter