Zimbabwe: RBZ Probes Shady Tycoons and Firms

The Financial Intelligence Unit (FIU) - an arm of the Reserve Bank of Zimbabwe (RBZ) -- has opened a fresh investigation into firms and individuals who are using shelf companies to siphon money from the foreign exchange auction and channelling it to the black market.

The apex bank is working with other law enforcement agents -- police and the Zimbabwe Anti-Corruption Commission (Zacc) -- to corner tycoons causing headaches in the financial services sector.

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