Categories: Zim Latest

RBZ names, shames & bans people abusing phone lines for illegal forex trading, arrests being made

The Reserve Bank of Zimbabwe (RBZ) has named and taken measures against individuals abusing mobile phone services and social media to promote and facilitate illegal foreign exchange transactions and money-laundering activities.

Meanwhile, below is the list of abusers of mobile phone lines and social media for illegal foreign exchange transactions and money laundering activities.

In June 2020 the government announced restrictive measures on Mobile Money Platforms because of allegations of illegal forex dealings and currency manipulation.

The govenment says long periods of investigations followed, because of the complex nature of the crime, and arrests are now being made with the culprits being named and shamed.



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