The Reserve Bank of Zimbabwe has announced that it will be offering a 5 percent incentive to whistleblowers who expose individuals and companies hoarding, selling or externalising cash. RBZ governor John Mangudya announced this on Wednesday.
Said Mangudya:
To promote and enforce compliance with best practice and anti-money laundering rules and regulations, the Bank is pleased to advise that it has established dedicated Hotline numbers for the public to report individuals and firms or traders that may be involved in cash hoarding, selling or abusing or externalising of cash, or any related misdemeanor,
A reward equivalent to 5 percent of the reported and recovered cash amount will be offered by the Bank. Information provided to the Bank shall be kept in confidence between the informant and the Bank.
Zimbabwe is battling severe cash shortages and despite the introduction of the bond notes, the seems to be no improvement in the cash situation.
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