Some 522 bank accounts have been frozen by the Reserve Bank of Zimbabwe as part of a continuing clampdown on those who violate exchange control regulations.
Over 140 entities and individuals have also been fined.
Financial Intelligence Unit director-general Mr Oliver Chiperesa told the Sunday Mail that : “Frozen bank accounts from January 1 to June 7 stand at 522.
The reasons for freezing include traders found to be manipulating exchange rates, as well as where our routine transaction monitoring and analysis identifies bank accounts that are being misused for illegal foreign currency trading.”
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Mr Chiperesa said “patterns that are inconsistent with normal shopping behaviour” are also being flagged. “The latter category also includes accounts that are linked to bank cards that are being repeatedly used to make purchases from shops in patterns that are inconsistent with normal shopping behaviour,” he added.
“These are cards used by middlemen, who accost customers in and outside shops, asking the customers to use the ZiG cards to make their purchases while they give the middleman the agreed US dollar equivalent.”
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