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RBZ loses US$34 500 in cyber fraud scam
19 Sep 2025 at 19:05hrs | 167 Views
A daring cybercrime scheme has cost the Reserve Bank of Zimbabwe (RBZ) US$34 500 after fraudsters allegedly hacked into a contractor's email and diverted funds meant for the central bank's exhibition stand at the Harare Agricultural Show.
Three suspects - Rubbie Chinanai (54) and Ashel Chinanai (35) of Cowdray Park, Bulawayo, together with Tichawanda Kevin Chinyande (31) of Southview, Harare - appeared before the Bulawayo Regional Court this week facing fraud and money laundering charges.
According to the National Prosecuting Authority of Zimbabwe (NPAZ), the RBZ had contracted Kutting Edge Events to build its exhibition stand, with payment to be made in two instalments into the company's Steward Bank account. Prosecutors allege the accused hacked into the contractor's email system and altered the banking details, leading the central bank to unknowingly transfer US$17 250 on 28 August and another US$17 250 on 2 September into Rubbie Chinanai's Stanbic Bank account.
Investigations later revealed that the funds were quickly moved around in a laundering trail. It is alleged that part of the money was transferred to Ashel Chinanai's NMB account, while another portion was withdrawn and sent via Mukuru to a South African contact identified as Richard Nyadongo. Prosecutors say Ashel pocketed a small commission before withdrawing more funds, which she allegedly deposited into Chinyande's ZB account under the instruction of Anold Kasasa, who is still on the run.
The three accused were granted bail on strict conditions, including each depositing US$150, surrendering passports in Chinyande's case, reporting weekly to Bulawayo Central Police Station and refraining from interfering with witnesses. The case was remanded to 30 September.
The NPAZ warned that cyber-enabled fraud and money laundering are on the rise in Zimbabwe and urged institutions and individuals to exercise greater vigilance. "Those who abuse technology to siphon public funds will be prosecuted," the authority said.
Three suspects - Rubbie Chinanai (54) and Ashel Chinanai (35) of Cowdray Park, Bulawayo, together with Tichawanda Kevin Chinyande (31) of Southview, Harare - appeared before the Bulawayo Regional Court this week facing fraud and money laundering charges.
According to the National Prosecuting Authority of Zimbabwe (NPAZ), the RBZ had contracted Kutting Edge Events to build its exhibition stand, with payment to be made in two instalments into the company's Steward Bank account. Prosecutors allege the accused hacked into the contractor's email system and altered the banking details, leading the central bank to unknowingly transfer US$17 250 on 28 August and another US$17 250 on 2 September into Rubbie Chinanai's Stanbic Bank account.
Investigations later revealed that the funds were quickly moved around in a laundering trail. It is alleged that part of the money was transferred to Ashel Chinanai's NMB account, while another portion was withdrawn and sent via Mukuru to a South African contact identified as Richard Nyadongo. Prosecutors say Ashel pocketed a small commission before withdrawing more funds, which she allegedly deposited into Chinyande's ZB account under the instruction of Anold Kasasa, who is still on the run.
The three accused were granted bail on strict conditions, including each depositing US$150, surrendering passports in Chinyande's case, reporting weekly to Bulawayo Central Police Station and refraining from interfering with witnesses. The case was remanded to 30 September.
The NPAZ warned that cyber-enabled fraud and money laundering are on the rise in Zimbabwe and urged institutions and individuals to exercise greater vigilance. "Those who abuse technology to siphon public funds will be prosecuted," the authority said.
Source - B-Metro
