SECZim Advances Financial Crime Awareness

Witness Runodada- Zim Now Reporter

The Securities and Exchange Commission of Zimbabwe has reaffirmed its commitment to strengthening regulatory compliance by hosting a two-day Anti-Money Laundering, Combating the Financing of Terrorism, and Proliferation Financing workshop for capital market participants.

Held in Mutare from March 21 to 22, 2025, the training aimed to prepare the capital markets sector for the upcoming third round of Eastern and Southern Africa Anti-Money Laundering Group mutual evaluations. The workshop offered comprehensive coverage of AML/CFT/CPF protocols through presentations, peer reviews, case studies, and a multiple-choice assessment.

Key areas of focus included AML/CFT/CPF governance structures, enterprise-wide risk assessments, customer due diligence, know your customer requirements, and enhanced due diligence for high-risk clients. Additional sessions covered transaction monitoring, compliance reporting frameworks, goAML portal reporting procedures, recruitment and vetting of staff, and AML training for boards and senior management.

Participants praised the workshop for its relevance and depth. “The training was good and fair. It made me understand more about EDD and CDD in the context of AML, especially how it empowers compliance officers and managers,” one attendee shared. Another added, “It offered great insights into AML practices that we, as stockbrokers, must understand to support economic progress.”

SECZim Operations Director Norman Maferefa emphasized the Commission’s commitment to a robust and compliant financial sector. “More capacity-building initiatives are planned for 2025, focusing on AML/CFT/CPF and other prudential matters,” he said.

Maferefa also noted the inclusion of representatives from the Criminal Investigation Department and the Asset Forfeiture Unit, underlining the importance of cross-sector collaboration in combating financial crime.

Overseeing more than 200 capital market intermediaries, SECZim continues to champion a secure, transparent, and investor-friendly financial environment.