mail on sunday
At the very least 97 providers (excluding those in the fiscal providers sector) have been fined up to $20,000 by the Economical Intelligence Device (FIU) for failing to report suspicious transactions, lax buyer thanks diligence and neglecting the need to perform funds laundering danger assessments .
These entities are specified non-monetary corporations and professions (DNFBPs) and incorporate genuine estate brokers, company trusts, accounting and auditing corporations, law corporations, auto dealers and on line casino operators.
On the other hand, most of the companies penalized were in the genuine estate sector, adopted by gemstone and treasured metals dealers.
The FIU a short while ago launched a blitz against businesses associated in illicit economic transactions that destabilize exchange charges and charges.
FIU director-standard Mr Oliver Chiperesa informed the Mail on Sunday that DNFBP experienced been suggested to consider actions to avert illegal trade.
“In the earlier a few weeks, we have issued penalty letters to 97 entities, or so-identified as designated non-economic companies and professions (DNFBPs),” Mr Chiperesa reported.
“There are six groups of DNFBPs, so-termed expert gatekeepers, who want to consider actions to aid stop illicit proceeds from entering the monetary technique.
“The 6 groups are: regulation firms, accounting corporations, authentic estate agents, casinos, gem and treasured metallic sellers, vehicle dealers, and have faith in and company provider suppliers (company and have faith in development/management agents). Statutory obligations underneath the Income Laundering and Proceeds of Criminal offense Act.”
In the past, the regulatory approach to combating dollars laundering and terrorist funding has focused on financial institutions and other non-financial institution money institutions, he explained.
“But criminals are increasingly working with and abusing other selected occupations to conceal and give reliability to their illicit transactions, as a result necessitating a new shift in DNFBPs to also implement strong anti-money laundering actions,” he reported.
The real estate sector had the greatest number of sanctioned DNFBPs at 72, followed by gemstone and cherished metals dealers (20), accounting and auditing firms (3), have confidence in and company support providers (1) and casinos (1) .
Genuine Estate Institute of Zimbabwe (REIZ) president Dr Mike Juru welcomed the FIU raid, saying they would not condone this sort of illegal things to do.