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Police Arrest Six Illegal Currency Dealers For POS Machine Abuse

4 months ago
Tue, 23 May 2023 10:54:17 GMT
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Police Arrest Six Illegal Currency Dealers For POS Machine Abuse

The police in Bulawayo have conducted a raid on illegal foreign currency dealers, resulting in the arrest of six suspects allegedly involved in the abuse of Point of Sale (POS) machines for illicit transactions.

The Bulawayo provincial police spokesperson, Inspector Abednico Ncube, confirmed the arrests and issued a warning to the public to avoid engaging in illegal foreign currency transactions.

The suspects were arrested in a location known as Chicken Inn Tredgold, where they were found brandishing POS machines issued to them by local banks. Police were able to retrieve 11 POS machines during the operation, which took place at around 8AM yesterday. Inspector Ncube told the Chronicle:

On 22 May 2023 at about 0800 hours, police officers were on patrol when they arrested the six accused persons, and a total of 11 Point of Sale machines, which were used in the foreign currency dealing from the accused persons were seized.

According to Inspector Abednico Ncube, the use of POS machines by illegal foreign currency dealers is one of the major factors contributing to the increase in financial rates.

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The police spokesperson stated that the use of POS machines by illegal money changers has led to their activities becoming increasingly brazen, with dealers operating in public spaces as if their actions were legitimate.

This practice also poses a security threat, as robbers may target these open and illegal banking systems.

Inspector Ncube stressed that the police will continue to conduct operations to protect the lives and livelihoods of innocent citizens.

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