By Farai D Hove | The Financial Intelligence Unit (FIU) has taken significant steps to curb illegal financial activities, as revealed in a recent State Media Sunday Mail report. The FIU has frozen over 522 bank accounts from January 1 to June 7, targeting traders manipulating exchange rates and accounts misused for illegal foreign currency trading. Financial Intelligence Unit director-general Mr. Oliver Chiperesa stated that the FIU’s routine transaction monitoring and analysis identified these problematic accounts. Patterns inconsistent with normal shopping behavior, particularly involving ZiG cards used by middlemen to facilitate illegal currency exchanges, were flagged.

Despite this comprehensive crackdown, it has been noted that Wicknell Chivayo’s accounts have not been frozen. This is particularly surprising given the presence of a 64-page document presented by senior ZANU PF members Mike Chimombe and Moses Mpofu, which details Chivayo’s alleged involvement in money laundering and demands the return of close to USD 40 million he allegedly looted. The exclusion of Chivayo’s accounts from the freeze raises questions about the consistency and thoroughness of the enforcement actions.