Illegal Money Changers Using POS Machines Arrested
Police in Bulawayo have arrested six illegal money changers for dealing in foreign currency at the corner of Leopold Takawira Avenue and Fort Street, at a popular fast-food outlet commonly referred to as Chicken Inn Tredgold yesterday.
According to a statement released by Bulawayo Police Spokesperson Inspector Abednico Ncube on May 23, the accused persons were arrested after they were found to be using point of sale (POS) machines issued to them by some local banks to carry out their illegal activities.
“It has become a growing concern that the illegal foreign currency dealers are now using POS machines to conduct their illegal activities, and this practice has become a security threat to members of the public,” said Inspector Ncube.
The latest development where illegal money changers use POS machines has seen their activities going out of hand closing pavements and operating as though everything was legal.
This practice is a security threat as robbers may target such open illegal banking systems.Police officers were on patrol when they arrested the six accused persons and seized a total of 11 POS machines used in the foreign exchange business.
In light of this incident, Inspector warns the public to desist from dealing in foreign currency as they will face the full wrath of the law.
Every year, Zimbabwean authorities wage a war against illegal money changers, locally known as ‘osiphatheleni.’ operating mainly in the central business district of major cities across the country.
Despite these operations, illegal money changers continue to thrive in the streets, which has negatively impacted the country’s economy, leading to inflation and currency devaluation.
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