The Reserve Bank of Zimbabwe today named 30 individuals that it said were abusing mobile phones and social media platforms to promote and facilitate illegal foreign exchange transactions and money laundering activities.
It has instructed banks, mobile money operators and other financial service providers to identify and freeze their accounts and bar them from accessing financial services for two years.
The central bank also requested the Postal and Telecommunications Regulatory Authority to bar the individuals from operating mobile phone lines.
The Zimbabwe dollar is currently under siege and is now trading at double the official auction rate on the black market.
Eight financial firms are also before the courts for using mobile money to buy forex onthe streets.