President HARARE – Emmerson Mnangagwa has used his temporary powers over new legislation that illegal traders will be sentenced to 10 years imprisonment and seize the unfair wealth.
Under the regulations that will be implemented tomorrow, the government will track fund transfers that can not be explained in the financial system.
The intervention of Muangan related to exchange transactions and the amendment of money laundering and crime proceeds is made through the Constitutional provisions of the Presidential Order (Provisional Measures) Act.
Congress must approve the bill within six months to make the law permanent.
The new law provides for sentencing for up to 10 years for illegal traders and the authorities are authorized to seize unjust wealth through an unjust order of wealth.
The Zimbabwe Anticorruption Commission and the Zimbabwe Revenue Authority have been authorized to track offenders of financial crimes.
President Bush and Cabinet (Presidential Communications) George Charamba yesterday told the Sunday Ambassador that Mr Mnangagwa signed a bill to be Gazetted tomorrow.
Attorney General Ziyambi Ziyambi, Attorney General Ziyambi Ziyambi, said: "Our team has been working tirelessly over the last few weeks and the bill is ready for publication, which will be issued through a special government gazette."
Attorney General Virginia Mabhiza says the new law has revealed the gray area where criminals have been exploited to avoid crime.
"There were two legislative interventions, the first of which was an amendment to the Exchange Control Regulations, which help judicial officials interpret the law, To help you understand the law, the definition of & # 39; Dealers & # 39; becomes clearer.
"The second amendment applies to money laundering and criminal proceeds laws to provide unexplainable wealth," said a civil servant, or if someone in the past can not account for accumulated wealth in a way that is suspected of being a crime, "she said.
"The Exchange Control Regulations have been revised to introduce the assumption that you have to deal with them in a certain way to account for the transaction."
Mrs. Mabhiza said unexplainable spells would give to criminal organizations such as the State Prosecution Authority, Zacc and the Zimbabwe Republic Police Powers to capture the unexplained wealth.
"The President invoked his powers to force law enforcement agencies such as the police, NPA and Zacc to force the suspects to explain their wealth. Anyone who fails to provide a satisfactory answer, I am in danger of losing.
"We can stay for six months. Within these six months, Congress can exercise the power to maintain the law permanently."
Legal experts involved in the drafting of anonymously elected legislation say the rule meets international best practices.
"In the past, it was difficult not to do anything to people who are suspected of corruption or who have huge amounts of money that can not be explained.
"The authorities now have a firm foundation to require people to explain their wealth, which means that Zacc, the police, or Zimra can go to court to demand an order to force someone to explain their source of wealth. If there is no satisfactory explanation, the person would have gotten through the money or the suspicious transaction in his account.
"This year the UK introduced a subordinate order that was not described as an idea to counter corruption, such as white collar crime and mafia. This order is offered to people suspected of white collar crimes."
Last month, Mnangagwa ordered the Justice Department to cooperate promptly with the Office of Justice to reserve a currency supervisor and a money laundering agent.
Munangagwa defined concurrent market activities as a national security threat that his administration would not tolerate.