By Staff Reporter
The Reserve Bank of Zimbabwe, RBZ’s Financial Intelligence Unit has sanctioned over 200 local businesses for manipulating the foreign currency exchange rate through illicit black market currency trading and abusing the official foreign exchange auction.
The Unit is the Central Bank’s investigations section and it has surrendered to the police over 140 cases of alleged financial crimes relating to currency manipulation for further investigations over the same period.
Several weeks ago the Financial Intelligence Unit ordered the freezing of the bank accounts of four companies for further investigations into suspected money laundering.
The four companies are Geribrian trading as Transerve, Powerspeed trading as Electrosales, Halsted and Enbee, which were restricted from accessing their accounts until investigations are concluded.
So far, 82 cases of alleged breaches of financial regulations have been referred to the Criminal Investigations Department (Commercial Crimes Division), while six cases were handed over to the Central Intelligence Organisation Counter Terrorism Unit.
