The Reserve Bank of Zimbabwe’s Financial Intelligence Unit (FIU) has frozen 522 bank accounts belonging to companies and individuals, while 140 entities and individuals have been heavily fined.

Speaking to the Sunday Mail, FIU director-general Oliver Chiperesa those affected were found to be manipulating exchange rates, have bank accounts being misused for illegal foreign currency trading

“Frozen bank accounts from January 1 to June 7 stand at 522.”

The FIU has been focusing on those who move large sums of money using multiple bank cards.

These measures are meant to defend the new currency, the Zimbabwe Gold.