THE Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) has joined hands with the police and the Postal and Telecommunications Regulatory Authority (Potraz) to track and arrest some unscrupulous individuals using mobile phones to conduct illegal foreign currency trading.
In a statement, FIU said it has been monitoring social media platforms where foreign currency dealers have been advertising and promoting their illegal trade.
“The FIU is aware of WhatsApp groups that have mushroomed in the country for the specific purposes of promoting and facilitating illegal foreign currency trade,” it said.
FIU noted that it has since collaborated with the police, banks, mobile money or mobile phone service providers and relevant regulatory agencies to identify and take action gainst individuals who create, advertise on or participate (actively or passively) in WhatsApp groups or other platforms for illegalforeign currency trading.
It further said that phones of individuals suspected to be involved in illegal foreign currency trading would be barred while money any mobile money wallets and bank accounts of such individuals would be frozen.
“Identified persons will be investigated and prosecuted for illegally trading in or advertising illegal trading in foreign currency,” said FIU.
It requested members of the public to report any person, mobile phone number or bank account that continue to be used to engage in or advertise illegal foreign currency activities.
