Monday, July 05, 2010

Foreign Currencies Stolen from Zim Banks

You can't make this stuff up -
now that Zims have a currency that's worth something (i.e. other people's), it's being pinched and brought to countries where there's something of value to buy with it.



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HARARE - Banks across Zimbabwe have been instructed by the Reserve Bank of Zimbabwe to increase their security following the increase in robberies after the abolition of the Zimbabwean currency and introduction of the foreign currencies in Zimbabwe.

These robberies have mainly been carried out by local and some of the South African gangs. They have mainly targeted the United States Dollar, British Pound and South African Rand. The currencies were introduced in Zimbabwe to deal with the economic meltdown and hyperinflation being experienced by the economy.

The Reserve Bank of Zimbabwe has warned the banks to be more careful as the World Cup is going on in South Africa.

The robberies have also been carried by criminal syndicates operating in Zimbabwe and South Africa and this has also sparked fears among the people and the banking sector in Zimbabwe.

The banks are being told to take more steps to increase security and to deal with these incidents in an effective manner. They are also being told to deal with threat posed by internal factors like the help provided by the staff in aiding these robberies.

Many robbers loot these banks and then cross the border and go to South Africa when they can spend this money easily without any fear.

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