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A fresh crackdown on illegal currency traders by Zimbabwean authorities has resulted in the arrest of 10 suspects.
The operation, a joint effort by the police and the Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU), targets illegal money changers nationwide. National police spokesperson Commissioner Paul Nyathi confirmed that the crackdown will continue.
“We are committed to eradicating illegal currency trading and ensuring lawful transactions,” Comm Nyathi said. He emphasized that supermarkets, pharmacies, and small businesses using excessive exchange rates are also under scrutiny.
Action will be taken against anyone engaging in illegal foreign currency trade or using social media for such purposes. The public is urged to report illegal money changers to the National Complaints Desk at (024) 2703631 or via WhatsApp at 0712 800 197.
In the initial phase of the operation, which concluded in May, authorities arrested 224 individuals involved in illegal currency trading. The FIU also froze 90 bank accounts and imposed civil penalties on over 40 people for violating the Exchange Control Act. Some of those arrested in April are still awaiting bail.
The recent arrests reflect ongoing efforts to curb the black market for foreign currency, which has been contributing to economic instability. The authorities are determined to dismantle these illegal operations and restore order to the currency exchange sector.
