Financial Intelligence Unit
Overview of the Financial Intelligence Unit
The Bank Use Promotion & Financial Intelligence Unit was established in 2004 in terms of section 3 of the Bank Use Promotion and Suppression of Money Laundering Act [Chapter 24:24].
The Unit exists as a Unit of the Reserve Bank of Zimbabwe, but has its own governing statutes, giving it a mandate distinct from that of the central bank.
To be a leader in the provision of high quality financial intelligence in the national, regional and international fight against money laundering and financing of terrorism and for ensuring the safety and integrity of Zimbabwe's financial system.
The Unit's main statutory functions are:
The Unit is the main AML/CFT regulator, but works in close cooperation with supervisory / regulatory bodies of the various types of designated reporting institutions to ensure compliance that the regulated entities comply with their AML/CFT obligations.
National Task Force on AML/CFT
The National Task Force on Anti Money Laundering and Combating Financing of Terrorism is a forum that brings together law enforcement agencies and other, mostly governmental, institutions that are involved in the fight against money laundering and financing of terrorism.
The National Task Force on AML/CFT is chaired by the Director of the FIU and meets regularly for purposes of coordinating policies and sharing information on AML/CFT matters.
Current membership of the National Task Force includes representatives from the following organizations:
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