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*ZACC Targets Real Estate Agents For Illegal Forex Export*

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The Zimbabwe Anti-Corruption Commission (ZACC) is targeting real estate agents and individuals accused of manipulating exchange rates to illegally export large sums of foreign currency. The agents are reportedly using lawyers’ trust accounts to transfer money.

ZACC is working with clearing agents to curb money laundering and smuggling. ZACC chairperson Justice Loice Matanda-Moyo emphasized the need for sound policies to stabilize the economy and avoid inflation and financial indiscipline. Speaking during the second National Anti-Corruption Strategy (NACS) steering committee meeting in Harare on Thursday, Justice Loice Matanda-Moyo said:

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> Money laundering is now happening in the property sector especially with estate agents. The monies will be channelled via the lawyers’ trust accounts.

> We have also extended our hands to the clearing agents in terms of smuggling so we are working hand in glove with the clearing agents.

> It is important that as the steering committee we also assist in recommending sound policies that impact or stabilise the economy and not contribute to the rise of inflation.

> There is need to strike a balance between the use of monetary policies (changing the money supply) or fiscal policies (changing government spending) to get the economy back on track. This so as do avoid the issues of inflation and financial indiscipline.

The director general of the Financial Intelligence Unit, Mr Oliver Chiperesa, said the FIU has engaged an international financial intelligence agent to detect money laundering cases.

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