The government has resolved to strengthen legislation to combat money laundering and the financing of terrorism.
Money laundering involves concealing the origins of illegally obtained money, typically by passing it through a complex sequence of banking transfers or commercial transactions. The goal is to make the money appear legitimate, allowing the criminal to use it without attracting attention.
During a post-Cabinet media briefing last week, Information, Publicity and Broadcasting Services Minister Jenfan Muswere announced that the Cabinet had approved the principles underpinning the proposed amendments to the law. He said:
<blockquote>
Cabinet considered and approved the principles underpinning proposed amendments to the Money Laundering and Proceeds of Crime Act [ Chapter 9:24], Suppression of Foreign and International Terrorism Act [ Chapter 11:21 ] and The Customs and Exercise Act [ Chapter 23:02 ], as presented by the Minister of Finance, Economic Development and Investment Promotion, Honourable Professor Mthuli Ncube.
The proposed amendments on a number of Acts are thus meant to address remaining gaps in the country’s legal and institutional framework on combating Money Laundering, Financing of Terrorism and Financing of Proliferation of weapons of mass destruction.
Zimbabwe subscribes to the international standards on combating Money Laundering, Financing of Terrorism and Financing of Proliferation of Weapons of Mass Destruction as set out in the Financial Action Task Force (FATF) Forty (40) Recommendations.
Member countries are assessed periodically, to determine the extent to which they are implementing the FATF standards. Zimbabwe is due for the next round of assessment in 2026.
</blockquote>
Muswere also said a proposal was made to harmonise sections 11 and 12 of the Money Laundering and Proceeds of Crime Act chapter 9:24 and amendments with sections 27 and 55 of the Customs and Exercise Act. He said:
<blockquote>
It is proposed that sections 11 and 12 of the Money Laundering and Proceeds of Crime Act [ Chapter 9:24] be amended.
Amendments to sections 11 and 12 of the Money Laundering and Proceeds of Crime Act will also necessitate amendments to sections 27 and 55 of the Customs and Excise Act so that the two Acts are aligned.
</blockquote>
The Financial Action Task Force is an intergovernmental organisation established in 1989 to combat money laundering and terrorist financing.
Its primary objectives are to set standards and promote measures that ensure effective global action against these illicit activities.
The FATF’s Forty Recommendations were established in 1990 and updated several times. These recommendations provide a framework for countries to implement effective measures in both the public and private sectors.
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The government wants to make rules stronger to stop people from laundering money or funding terrorism. They want to hide where the money comes from, to use it without getting caught. The Cabinet approved changes to laws to close gaps in stopping money laundering, terrorism funding, and weapons proliferation. Zimbabwe must follow global standards set by the Financial Action Task Force. They will be assessed in 2026. The government also wants to align two laws to better fight against money laundering. The FATF was set up in 1989 to stop illegal money activities and set standards for countries to follow.

Government Moves To Tighten Anti-Money Laundering Laws

The Financial Intelligence Unit (FIU), the Zimbabwe Republic Police (ZRP), and the Zimbabwe Anti-corruption Commission (ZACC) have intensified investigations into eight individuals implicated in the Al Jazeera Gold Mafia four-part documentary series.
This comes amid concerns that Zimbabwe risks violating the strict regulations of the Financial Action Task Force (FAFT), an international policy-making and standard-setting body dedicated to combating money laundering and terrorist financing.
Zimbabwe has made the necessary reforms to address its money laundering and terrorist financing weaknesses and has been removed from the grey list by FAFT.
FIU director general Oliver Chiperesa told <a href="https://businesstimes.co.zw/gold-mafia-fiu-police-intensify-probe/">Business Times</a> that they are working with law enforcement agencies to identify assets and analyse transactions to establish possible links to crime. He said:
<blockquote>
The interim measures were also taken while monitoring and analysing the documentary episodes as they came out to see if there was further information that could potentially be used in criminal investigations.
After all the episodes, we are now sitting down with other relevant agencies and evaluating what is available, and deciding on the next course of action.
The FIU will not make a decision alone but in close consultation with law enforcement agencies as we always do.
</blockquote>
FIU has ordered the freezing of assets and accounts belonging to Ewan McMillan, Kamlesh Pattni, Uebert Mudzanire (aka Angel), and Simon Rudland. Said Chiperesa:
<blockquote>
The freezing is not a seizure of the funds or assets but simply an interim measure and a precaution to ensure that potential proceeds of crime are not disposed of or transferred before law enforcement agents can commence possible investigations.
It is important to emphasise that what is there at the moment are largely allegations and suspicions.
</blockquote>
Angel, who is President Emmerson Mnangagwa’s special envoy and ambassador-at-large to Europe and the Americas, and a preacher, was secretly filmed by undercover Al Jazeera reporters offering to use his diplomatic cover to launder large volumes of cash into Zimbabwe as part of a gold smuggling operation.
He and his side-kick Rikki Doolan were also seen repeatedly name-dropping President Emmerson Mnangagwa’s name.
The United Kingdom’s upper house of Parliament, the House of Lords, wants the British government to probe the allegations of criminal activity against its citizen, Angel.
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