CHIPINGE – The cat and mouse game between illegal currency traders and law enforcement authorities continues as both sides have upgraded their tactics in the ongoing battle. While the introduction of Zimbabwe’s new currency and the implementation of Statutory Instrument 81A initially sent traders underground, however, their plan B and innovation have enabled a stealthier comeback.
The recent arrest of Irene Samupindu who is a suspected forex dealer in Chipinge also highlights the evolving strategies employed by both sides. Samupindu was apprehended by police on 1 August and was found in possession of over US$16 000, R80 000, and ZiG23 000. She was arrested alongside her sister Prudence who is facing her own charges.
“Illegal forex dealers have resurfaced but altered their methods,” confided one informant who is a former forex trader himself.
Samupindu’s arrest, however, suggests that the police are also adapting their methods. Detectives were on surveillance of illegal foreign currency dealers in Chipinge town and were using trap money and tip-offs to track down suspects. They observed Samupindu operating from a commuter omnibus parked in the central business district as she was conducting transactions with various customers.
The detectives had received a tip-off that Samupindu was allegedly dealing in foreign currency including doing electronic funds transfer to and from South Africa and buying United States dollars using ZiG and vice versa. They had strategically positioned themselves to witness the illegal activities taking place.
They saw Samupindu seated in a white Nissan Caravan commuter omnibus where she was serving different customers. Her sister Prudence was also engaged in similar illegal activities and has since been arrested and is being charged in a separate case.
“After about an hour, the detectives pounced on the accused person and informed her of their mission,” the court papers revealed. A search of Samupindu and her vehicle yielded 16 debit cards from various banks, a CBZ point-of-sale machine, US$16 367, R82 220, and other items. It was further noted that the accused person had made several transactions on the day using her CBZ bank account.
The detectives also noticed that there was a box of Actellic Gold Dust insecticide on top of the motor vehicle, which the accused was using as a front to disguise her illegal activities. This tactic, commonly used by forex dealers to avoid detection, highlights the lengths to which they go to evade law enforcement.
The detectives also recovered from Prudence R13 714, a Samsung Galaxy cellphone with messages confirming dealing in foreign currency. This evidence further strengthens the case against both sisters and demonstrates their involvement in illegal forex trading.
Exchange rates have returned alongside a new sense of caution through coded WhatsApp messages and veiled in-person conversations. Mobile transactions from vehicles have replaced fixed locations and some feel the heat has dissipated enough to resume business. Though the open market vanished, however, shadowy dealings still persist in the shifting landscape.
“Even in private WhatsApp groups, many were reluctant to openly admit holding dollars or needing local currency when the heat intensified. Rates vanished from message threads as everyone went underground, but now business is booming again in the shadows, the former forex dealer said.
