RBZ freezes company accounts over money laundering 

Source: RBZ freezes company accounts over money laundering – NewsDay Zimbabwe

THE Reserve Bank of Zimbabwe’s (RBZ) Financial Intelligence Unit (FIU) on Tuesday freezed three accounts of companies listed on the Zimbabwe Stock Exchange over allegations of money laundering.

The FIU closed accounts of Ceribrian TIA Transervet, Powerspeed investment Private (Electrosales), Halsted Brothers and Enbee Store with immediate effect.

FIU director general Tichafa  Chigaba said the FIU noted unusual activity on the accounts.

“As we carry out further investigations on possible money laundering relating to the funds, you are directed to freeze the account with immediate effect and you shall not process any withdrawals or transfers from the accounts, unless with the specific approval of the Unit. You should however, allow deposits or other flows into the account,

RBZ Freezes Company Accounts Over Money Laundering

“You shall immediately report to the Unit any deposit or other inflow into the account as well as any attempted withdrawal or transaction from the account.”

“Please acknowledge receipt of this directive in writing confirming that you have frozen the account and confirming the account balance as at the date of freezing,” Chigaba said.

In 2021, the government gazetted Statutory Instrument (SI) 127 of 2021 which seeks to regulate foreign currency exchanges.

SI 127 of 2021 prohibits business operators from charging above the official exchange rate and empowers authorities to punish those that refuse to take the Zimbabwe dollar for local transactions.