Police have challenged the Parliament of Zimbabwe to review some of the laws dealing with economic crimes, saying the current statutes were “weak” to enforce.
Speaking during the just ended Zimbabwe National Chamber of
Commerce (ZNCC) 2022 annual congress held in Victoria Falls, police
spokesperson Assistant Commissioner Paul Nyathi said due to “weak” laws, the
police were failing to deal with illegal money changers blamed for the collapse
of the local currency.
“You will find a briefcase company or a fake company, which
has no CR14 form (a document that gives details of the directors and
secretaries of the company) and is not registered with the Deeds Office,
operating 300 accounts, taking deposits and not offering physical products or a
service,” Nyathi said.
“They are trading and at one point having $1 billion in
their accounts which they take from people then they take this money to the
parallel market to look for the United States dollars.
“We have some of these companies.”
Nyathi said currently, there are 28 entities which are on
the radar of the police and other stakeholders including the Reserve Bank of
Zimbabwe and Zimbabwe Revenue Authority for operating illegally.
“They don’t pay tax, they don’t contribute anything and
they are not members of the ZNCC or the Confederation of Zimbabwe Industries
but they are saying they are in the Zimbabwe financial system taking money,”
Nyathi said.
The police spokesperson said for them to enable policing to
proceed smoothly, Parliament must constantly review some of our laws because
“some of our laws make it difficult when it comes to policing, especially
issues of economic crimes.”
“Some of our laws are weak because if you go to Copacabana
in Harare and Egodini in Bulawayo, you will find people standing in corners
with huge chunks of Zimbabwe dollars and when you arrest them, the courts they
will tell you that you don’t have a tight or sustainable charge,” he said.
“The only option available for the police is to charge them
for blocking pavements.
“So they get away with a fine and our fines are not being
reviewed.
“Surely, in an economy like ours, how can people pay a fine
of $500 or $1000?
“That’s why I want to challenge our Parliamentarians to
assist in the maintenance of law and order in the country.
“Let’s have deterrent fines. Our fines are pathetic to say
the least.”
The government has been cracking down on illegal foreign currency
traders, issuing statutory instruments, but with little success.
For instance, in mid-September 2021, the Reserve Bank of
Zimbabwe ordered banks and mobile money operators to freeze accounts of over 30
individuals it accused of facilitating illegal foreign currency trade via
mobile platforms and social media.
This came one year after the government banned mobile-money
services, accusing the dominant Econet of running a Ponzi scheme.
Officials at the central bank alleged that Ecocash
platform, which boasts of 11 million users, contributed to the country’s
spiralling inflation by facilitating illegal foreign-currency dealings.
The government later allowed-mobile money users to continue
using the Ecocash services, but only if they abided by the weekly and monthly
transaction limits imposed on them.
Nevertheless, mobile-money agents remain banned.
Nyathi said the people who are behind illegal money
changing business in Zimbabwe were highly-connected.
“Some of these so-called moneychangers don’t stay in the
streets,” he said.
“The people on the streets are just runners and when we
arrest these runners, they don’t tell you anything.
“They will rather die or go to jail,” he said.
“As police, we have it and we know that some of these
so-called big deals in terms of foreign currency dealing are done in offices,
houses and cars.
“When we say people should come forward and report, they
don’t want to.
“They only come to report after losing money. I am telling
the truth, this is the challenge which we have with the police.
“That’s why we want business, Parliamentarians to come on
board and support us.”
Nyathi said Zimbabweans were keeping large sums of
greenbacks at their homes, money that can be used to retool some of the
industries.
“There is money in Zimbabwe. How can you have a company
keeping US$300 000 in office?
“A company keeping US$400 000 cash in the storeroom?
“These guys have never worked before, they acquire houses,
they buy cars and they acquire properties,” he said.
“The industry is talking about retooling and a sustainable
economy.
“How can we sustain the economy when we have huge chunks of
money sitting in a storeroom?” Standard
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