Reserve Bank of Zimbabwe (RBZ) Governor John Mangudya said that they are carrying investigations and non-compliant banks will be charged under the Abuse of Public Office Act and would be liable to long prison terms if convicted.
Mangudya also urged branch managers to monitor tellers and their activities. Said Mangudya:
Non-compliant banks should be warned. They will be charged under the Abuse of Public Office Act and would be liable to long prison terms if convicted. It is possible to manipulate the system. However this is a human issue and we entrust the sector in the hands of capable, reliable and trustworthy people. I urge branch managers to monitor tellers and their activities and bank management to be honest and credible themselves. There are too many tellers as each bank will have a number of branches across the country, so really for our teams to really follow up on each and every teller would be tedious, we are just entrusting the job in people whom we hope were hired on integrity and met recruitment requirements.
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