Advertising foreign currency rates now illegal in Zimbabwe
THE Financial Intelligence Unit (FIU) of the Reserve Bank of Zimbabwe (RBZ) says it is aware of various WhatsApp groups which have mushroomed where dealers of foreign advertise their illegal business, and is engaging the police and mobile network operators to launch a massive crackdown.
The RBZ also says mobile phone numbers which join or advertise in such groups are being shared with the Post and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) and the numbers will be blacklisted and barred.
“Other mobile numbers registered in the names of the identified persons will also be identified and barred,” said the FIU of the RBZ.
“Bank accounts owned by persons identified with the said numbers will be identified and frozen and the person will be blacklisted and barred from accessing banking services with any bank.
“Identified persons will be prosecuted for illegally trading in or advertising illegal trading in foreign currency.”
The statement was issued Monday, 15th June 2020. See below: