|
|
|
|
|
|
Not So Funny Money 18th November 2004 HARARE - A NIGERIAN syndicate which specialises in the production of fake money, academic certificates and drivers' licences, has quietly established itself in Zimbabwe's commercial business district where business has become viable. The syndicate, which has been operating for sometime in the country, has now become a cause for concern for the authorities in the country, who have now put in place measures to nab the culprits before the situation gets out of hand. Sources within the local police force, the Zimbabwe Republic Police, have indicated that measures have now been put in place to deal with the syndicate, which has so far put in circulation a huge amount of fake United States dollars printed on genuine security paper. The sources, who spoke on condition that they were not named, said the country's economic and academic sector, were being targeted because of their sensitive nature. "The economic sector has been hard hit by the distribution of fake US dollars which have been channelled into the black market and the banking sector where state of the art detecting equipment is not yet available. "The green-back is on high demand and therefore most institutions and money traders on the country's black-market are falling prey to the massive injection of the fake money. On the other hand, fake certificates being circulated include those for degrees and masters programmes from reputable colleges in Europe and America. "Desperate Zimbabweans are buying these certificates for careers outside the country where Zimbabwean academics are on high demand," said the source, who is a senior member in the country's police force. As part of sweep-up operations to rid the commercial business district of the Nigerian syndicate, police recently combed off Ximex Mall, a popular place for members of the syndicate, where thorough searches were mounted. Lunchtime shoppers were recently inconvenienced when they had to go through police check points to clear themselves. Although police indicated that they had recovered a number of stolen mobile phones and other documents which were being sold at the mall, nothing related to the syndicate was recovered, raising fears within the police force that syndicate members could have been tipped off before the raid. Just a few days ago, police busted the distribution of fake US dollars printed on genuine security paper, which had been circulating on the market for some time. The money, which did not have all the security features as required on the US currency, had the general features that passed through most of the fake detecting machines in the banking industry. Both moneychangers and some financial institutions lost out as a result of the fake money that had been pushed onto the market. The syndicate is also alleged to be producing fake certificates of ownership for mobile cell-phone lines that would have been stolen. A number of people have been arrested after being found in possession of stolen cell-phone lines although they had certificates of ownership which looked genuine. The emergence of the fake certificate market is a result of the current socio-economic situation in the country where more than 70 percent of the population is now jobless. Most Zimbabweans have now resorted to going abroad in search of employment and better living conditions. Countries that have been targeted by the Zimbabweans include South Africa, Botswana, Malawi and Mozambique, where conditions are said to be favourable and employment opportunities in abundance, especially for Zimbabwean academics. Daily News
(Zimbabwe) online edition |