Zimbabwe goes after social media foreign currency dealers

The Financial Intelligence Unit (FIU) says it has been monitoring social media platforms where foreign currency dealers have been advertising and promoting their illegal trade.

The FIU claims that it is aware of WhatsApp groups that have mushroomed in the country for the specific purpose of promoting and facilitating illegal foreign currency trade.

The FIU in collaboration with the police, banks, mobile money/ mobile phone service providers and relevant regulatory agencies has embarked on an exercise to identify and take action against individuals who create, advertise on or participate (actively or passively) in WhatsApp groups or other platforms for illegal foreign currency trading.