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Zimbabwe FIU fines 4 banks over weak AML Controls
Zimbabwe's Financial Intelligence Unit (FIU) fined four banks up to US$30 000 each last year after uncovering serious lapses in anti-money laundering (AML) and counter-terrorist financing (CFT) system...Published: 22 Aug 2025 at 13:20hrs | 448 | by Staff reporter
'Fraud' kingpin arrested in UAE, extradited to Zimbabwe
A key figure in the collapsed Beven Capital Ponzi scheme has been arrested in the United Arab Emirates (UAE) and extradited to Zimbabwe to face multiple fraud charges, the National Prosecuting Authori...Published: 21 Aug 2025 at 16:21hrs | 1247 | by Staff reporter
Supreme Court saves Ugandan couple from Harare houses seizure
The Supreme Court of Zimbabwe has quashed an unexplained wealth order previously issued against Ugandan nationals Robert Kwesiga and his wife, Sande Hilga Kwesiga, ruling that the prosecutor general f...Published: 03 Aug 2025 at 12:17hrs | 371 | by Staff reporter
Chiwenga confirms he reported Marry Mubaiwa
Vice President Constantino Chiwenga has revealed that he was the one who reported his ex-wife, Marry Mubaiwa, for alleged criminal activities, and has welcomed the forfeiture and auctioning of her ass...Published: 30 Jul 2025 at 15:52hrs | 720 | by Staff reporter
Chiwenga applauds forfeiture of ex-wife's assets by SA
The legal team representing Zimbabwe's Vice-President, General (Retired) Dr. Constantino Guveya Dominic Nyikadzino Chiwenga, has welcomed the recent forfeiture ruling handed down by the Gauteng High C...Published: 29 Jul 2025 at 17:03hrs | 576 | by Staff reporter
Money laundering costs Zimbabwe US$6,5bn
Zimbabwe has lost an estimated US$6.15 billion to money laundering-related crimes over the past five years, with car dealerships, gold smuggling, and entrenched corruption networks topping the list of...Published: 22 Jul 2025 at 08:49hrs | 219 | by Staff reporter
Ecobank robbery case collapses
A high-profile case tied to the US$4 million Ecobank armed robbery has crumbled after police admitted they had no evidence linking a local security guard to the dramatic heist.Sibonginkosi Sib...Published: 05 Jul 2025 at 14:52hrs | 441 | by Staff reporter
Zimbabwe eyes tighter gambling rules
The Lotteries and Gaming Board (LGB) has announced plans to tighten regulatory controls over Zimbabwe's gambling industry following rising concerns about illegal gambling operations, financial crimes,...Published: 26 May 2025 at 08:11hrs | 69 | by Staff reporter
Chivayo, Bushiri cases dominate Anti-Corruption Conference
The high-profile cases of fugitive Malawian preacher Shepherd Bushiri and controversial Zimbabwean businessman Wicknell Chivayo have taken centre stage at the 15th Commonwealth Regional Conference for...Published: 07 May 2025 at 15:47hrs | 2003 | by Staff reporter
Jailed Buyanga in critical condition
Lawyers representing incarcerated businessman Frank Buyanga Sadiqi have raised concerns over the impact of his continued detention on his health. Reports from South Africa indicate that Buyanga has fa...Published: 17 Feb 2025 at 09:03hrs | 1037 | by Staff reporter
US, UK sanction Gold Mafia linked dealer
The United States and Britain imposed sanctions on several individuals and businesses linked to global gold smuggling and money laundering networks, with Zimbabwean businessman Kamlesh Pattni at the c...Published: 10 Dec 2024 at 07:08hrs | 990 | by Staff reporter
Zimbabwe's Banking Sector and No Arrests Years Down the Line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 20:15hrs | 308 | by Engineer Jacob Kudzayi Mutisi
Zimbabwe's banking sector and no arrests years down the line
United Merchant Bank (UMB) - Closed in 1998 due to insider loans and mismanagement.Universal Merchant Bank (UMB) - Closed in 2003 struggled with negative perceptions after UMB's collapse....Published: 05 Dec 2024 at 09:07hrs | 620 | by Eng. Jacob Kudzayi Mutisi
Late former ambassador, wife lose US$1,3m in investment scam
Authorities in Zimbabwe are intensifying efforts to recover nearly US$1.3 million defrauded from the late Ambassador Hurudza Gift Punungwe and his wife, Runako Beauty Punungwe, in an investment scam d...Published: 30 Nov 2024 at 12:50hrs | 278 | by Staff reporter
New Zealand's groundbreaking move toward regulating online casinos
The New Zealand government has taken a significant step toward regulating its online casino industry, marking a pivotal moment in the country's gambling landscape. As the popularity of online gambling...Published: 28 Oct 2024 at 13:03hrs | 198 | by Staff Reporter
Hichilema alarmed by prospects of defeat and prosecution for corruption
When Zambia experienced democratic backsliding between 2011 and 2021, the deliberate use of legal mechanisms to weaken opposition parties played a central role. Lawfare has been a constant theme of Za...Published: 07 Oct 2024 at 17:08hrs | 2657 | by Sishuwa Sishuwa
NPA claims to be on top of the game
The National Prosecuting Authority of Zimbabwe (NPAZ) has announced significant progress in its efforts to combat crime, having already surpassed last year's trial and conviction records at the Harare...Published: 15 Sep 2024 at 09:54hrs | 73 | by Staff reporter
Chivayo hijacks US$40m corrupt ZEC deal
CONTROVERSIAL businessman Wicknell Chivayo, who is close to President Emmerson Mnangagwa and other high-profile government officials, corruptly got a windfall from a murky Zimbabwe Election Commission...Published: 28 May 2024 at 12:47hrs | 35 | by Staff reporter
FIU sufficiently resourced to fight ZiG saboteurs
The Financial Intelligence Unit (FIU), a division of the Reserve Bank of Zimbabwe (RBZ), is well-equipped with skilled personnel and advanced hardware to tackle financial crimes. Recent recruitment ef...Published: 18 May 2024 at 10:47hrs | | by Staff reporter
'FIU and CIO are incompetent' Rutendo Matinyarare says
The controversial claims made by Rutendo Matinyarare, Chairman of the Zimbabwe Anti-Sanctions Movement (ZASM), have sparked outrage and disbelief among security agencies, financial institutions, and...Published: 30 Mar 2024 at 12:49hrs | 20 | by Mandla Ndlovu
Major shake-up at Deeds Office
A MAJOR shake-up to eliminate corrupt activities in the Department of Deeds, Companies and Intellectual Property is underway, The Sunday Mail has learnt.This follows a series of complaints and...Published: 18 Feb 2024 at 08:59hrs | 22 | by Staff reporter
Red flag raised over mess at Deeds Office
SHAMBOLIC record-keeping at the Department of Deeds, Companies and Intellectual Property could compromise Zimbabwe's listing as a low-risk country for money laundering and financing of terrorism by th...Published: 03 Dec 2023 at 10:32hrs | 13 | by Staff reporter
100 Zimbabweans probed over US$70m ill-gotten wealth
Over 100 individuals suspected of acquiring assets worth US$70 million through money laundering and illicit financial activities are currently under investigation. The National Prosecuting Authority (...Published: 22 Oct 2023 at 09:15hrs | 4 | by Staff reporter
Chamisa to free political prisoners, reform Judiciary
OPPOSITION Citizens Coalition for Change (CCC) leader Nelson Chamisa says he will free all political prisoners and the Judiciary from State capture, as part of his key deliverables in 100 days once el...Published: 10 Aug 2023 at 06:45hrs | 13 | by Staff reporter
AU accomplice in Zimbabwe corruption
THE sincerity of African leaders and institutions in fighting corruption has come under scrutiny following the appointment of controversial Zimbabwean self-styled prophet Uebert Angel as its Pan-Afric...Published: 25 Jul 2023 at 08:24hrs | 6 | by Staff reporter
Pan-African Parliament now a playground for 'discredited' Zanu PF-linked bigwigs
The African Union (AU)'s Pan-African Parliament, set up by the 2014 Protocol to its Constitutive Act, is now becoming a playground for discredited Zanu PF-linked high-profile Zimbabweans after the rec...Published: 21 Jul 2023 at 07:58hrs | 17 | by Staff reporter
A critical review of Al Jazeera's Gold Mafia documentary
APRIL, famously characterised as "the cruellest month" by distinguished poet and literary critic TS Eliot in his critically acclaimed essay "The Wasteland" - not because its first day celebrates fools...Published: 28 May 2023 at 17:07hrs | 6 | by Jonathan Moyo
RBZ scraps asset freeze on Gold Mafia-accused
THE Financial Intelligence Unit (FIU) has lifted the assets freeze orders placed against Ambassador Uebert Angel and three others implicated in alleged money laundering by Al Jazeera documentary serie...Published: 16 May 2023 at 05:13hrs | 25 | by Staff reporter
What draws the gold mafia to Dubai?
An Al Jazeera investigation shows how criminals use the city's pro-business policies to smuggle gold, clean dirty cash.https://www.youtube.com/watch?v=...Published: 06 Apr 2023 at 20:23hrs | 13 | by Al Jazeera Investigative Unit
Al Jazeera exposé: Mnangagwa should step down for enabling corruption
A CROSS-SECTION of Zimbabweans say they feel gutted after watching the first of a four-part Al Jazeera exposé on money-laundering and gold smuggling activities implicating President Emmerson Mnangagw...Published: 25 Mar 2023 at 08:16hrs | | by Staff reporter
Currency Crimes: Four banks to face the music
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) over allegations of involvement in illicit financial crimes that have led to...Published: 08 Jun 2022 at 07:29hrs | 162 | by Staff Reporter
4 Zimbabwe banks to face currency crimes charges
FOUR banks have been placed under intense scrutiny and will face stiff penalties from the Financial Intelligence Unit (FIU) on allegations of involvement in illicit financial crimes that have led to t...Published: 05 Jun 2022 at 09:08hrs | 11 | by Staff reporter
RBZ to name firms taking bank loans to black market
THE Reserve Bank of Zimbabwe (RBZ) has unearthed an elaborate practice by some big corporates in the country, who were borrowing large amounts of money from banks which they would then channel into th...Published: 15 May 2022 at 06:12hrs | 4 | by Staff reporter
Mnangagwa guns for economic hitmen
PRESIDENT Emmerson Mnangagwa's administration has launched a massive clampdown on some big corporates suspected of conniving with local banks to borrow billions of Zimbabwean dollars which they used t...Published: 13 May 2022 at 19:14hrs | 6 | by Staff reporter
Govt cracks down on speculators
GOVERNMENT is clamping down on big corporates, which borrowed billions of Zimbabwe dollars and used the money for speculative activities while taking advantage of exchange rate movements to push up pr...Published: 13 May 2022 at 19:02hrs | 5 | by Staff reporter
Trafigura seeks control of Zimbabwe metals over debts
TRAFIGURA Group and Zimbabwe's government have discussed a deal that would give the commodities trader control over output from some of the nation's biggest mines as repayment for debts, documents see...Published: 30 Apr 2022 at 16:15hrs | 1 | by Staff reporter
US collects US$18bn fines from corrupt firms
THE United States of America (US) has collected over US$18 billion in fines from companies engaging in various corrupt activities across the globe since 2015.The companies were charged under t...Published: 26 Mar 2022 at 06:21hrs | 6 | by Staff reporter
Zimbabwe removed from financial grey list
ZIMBABWE has been removed from the list of countries that are considered to be insufficiently compliant in implementing Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) Standards....Published: 06 Mar 2022 at 08:24hrs | 8 | by Staff reporter
Currency sabotage: 350 nabbed
OVER 200 local businesses were slapped with severe sanctions by the Financial Intelligence Unit (FIU) for manipulating the foreign currency exchange rate through illicit black market currency trading ...Published: 06 Mar 2022 at 08:20hrs | 2 | by Staff reporter
Taskforce to clampdown on currency manipulators
THE Reserve Bank of Zimbabwe (RBZ) is setting up a taskforce consisting of various law enforcement units to enhance capacity to arrest the indiscipline in the financial system. This comes after the Jo...Published: 04 Mar 2022 at 17:41hrs | 1 | by Staff reporter
Zacc is all bark and no bite
THE Zimbabwe Anti-Corruption Commission (Zacc) has given all sorts of warnings to deal with corruption in Zimbabwe until its face turned blue but clearly, it is the case of all foam and no beer....Published: 12 Dec 2021 at 19:38hrs | 10 | by Staff reporter
Steward Bank profit up 263% to $252 million HY
STEWARD Bank Zimbabwe has shrugged the disruptive impact of the Covid-19 pandemic and inflationary pressures to report impressive half-year financial results to+ August 31, 2021.The bank, a su...Published: 23 Nov 2021 at 05:55hrs | 15 | by Staff reporter
Monetary policy in a complex economy
MAINSTREAM neoclassical economics, which has been the dominant economic thinking for over a century, is no longer an adequate mental model to interpret and shape the socio-economics of a new reality....Published: 17 Nov 2021 at 05:36hrs | 12 | by Vince Musewe
Govt threatens crackdown on businesses fuelling forex black market
GOVERNMENT has threatened to suspend operating licences for business entities manipulating the official foreign currency rate, thus fuelling the high parallel market exchange rate.In a stateme...Published: 08 Oct 2021 at 06:32hrs | 13 | by Staff reporter
Noose tightened on Innscor and other retailers using black market rates
Retailers that continue to flout foreign currency regulations by setting prices in US dollars and then converting at the blackmarket rate will have their operating licences immediately suspended while...Published: 08 Oct 2021 at 06:26hrs | 1 | by Staff reporter
'When you fight corruption, it fights back'
JANUARY is a time of reflection. After the New Year's hangovers have worn off, many will try to take stock of the previous year, to understand what went wrong and how they could have done better....Published: 01 Feb 2021 at 05:37hrs | 3 | by Prosper Simbarashe Maguchu
Govt probes $25bn mobile money scam
Prosecutions on a wide range of financial crimes are likely as investigations continue inside and outside Zimbabwe into the huge pool of unregulated liquidity estimated at $25 billion created within t...Published: 23 Jan 2021 at 06:20hrs | 2 | by Staff reporter
RBZ swoops on foreign entities
THE Reserve Bank of Zimbabwe (RBZ) has launched an investigation into the conduct of at least 15 foreign-owned companies, which have allegedly externalised millions of United States dollars, according...Published: 27 Nov 2020 at 07:07hrs | 3 | by Staff reporter
Unexplained wealth orders here to stay
THE proposed introduction of a free-standing procedure which compels an individual to explain the source of his wealth is a radical development in English law. For instance, the human rights and polit...Published: 12 Jul 2019 at 08:03hrs | | by Prosper Simbarashe Maguchu
New dispensation rejects corruption
The advent of the new dispensation in November 2017 has seen a new impetus in the fight against the scourge of corruption. Right beginning with his inauguration speech on 24 November 2017, President M...Published: 19 Mar 2019 at 12:25hrs | 13 | by Bevan Musoko
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