The Reserve Bank of Zimbabwe (RBZ), Financial Intelligent Unit (FIU) has identified people who are abusing mobile telecommunications services and other social media platforms to promote and facilitate illegal foreign exchange transactions and money laundering activities.
In a statement today, the RBZ said they have instructed financial service providers and mobile service providers to freeze accounts operated by individuals who are abusing mobile telecommunications services.
“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.” Read the statement.
Furthermore the RBZ said they will continue to monitor social media and bank accounts so as to identify money laundering activities.
“The FIU in collaboration with law enforcement agents will continue to monitor various social media and bank accounts to identify and take action against perpetrators of illicit dealings” The statement further read.
The FIU said they forwarded the perpetrators’ names and particulars to law enforcement agencies for prosecution.
