To fully implement domestic, regional and international best practices and standards on AML/CFT, with particular emphasis on achieving effectiveness in line with the FATF Standards.
The establishment of the comprehensive AML/CFT framework shall be achieved through the engagement of human and technical resources, amongst local and international stakeholders.
The Financial Intelligence Unit was established in 2004 in terms of section 3 of the Bank Use Promotion and Suppression of Money Laundering Act [Chapter 24:24].
The Unit exists as a Unit in the administrative establishment of the Reserve Bank of Zimbabwe, but has its own governing statutes, giving it a mandate distinct from that of the central bank.
The Unit bears the primary responsibility of ensuring AML/CFT compliance, but works in close cooperation with supervisory /regulatory bodies of the various types of designated reporting institutions to ensure that the regulated entities comply with their AML/CFT obligations. The Unit also works with relevant stakeholders, in ensuring the investigation, prosecution, conviction of criminal offenders, and confiscation of recovered assets or funds.