LUSAKA - The Drug Enforcement Commission (DEC) has arrested five people, including a 76-year-old Zimbabwean national, for allegedly possessing counterfeit Zambian Kwacha and United States dollars valued at more than K800,000.
The suspects are accused of possessing fake currency allegedly intended to facilitate fraudulent business transactions targeting unsuspecting members of the public.
According to DEC, officers recovered K537,500 in counterfeit Zambian notes and US$12,800 in counterfeit United States dollars during the operation in Lusaka.
The suspects have been identified as:
Chola Ntasha, 59, of Ntasha Village in Mkushi District
Lloyd Phiri, 47, of Matero Township, Lusaka
Sydney Hassin, 76, a Zimbabwean national residing in Meanwood
Monica Chanda Banda, 52, of Kabanana
Ruth Samboko, 52, of Kabangwe
DEC Public Relations Officer Allan Tamba said the five suspects were jointly found in possession of the counterfeit currency and are believed to have intended to use it in illicit financial transactions.
"The said counterfeit money was alleged to facilitate the conduct of illicit business transactions aimed at defrauding unsuspecting members of the general public," Mr. Tamba said.
He said all five suspects remain in lawful custody while investigations continue.
Mr. Tamba warned individuals involved in counterfeit currency and other financial crimes that the Commission will continue to pursue offenders and enforce the law.
He also advised members of the public, particularly subsistence farmers who often receive large cash payments after selling their produce, to exercise caution when handling cash transactions.
The DEC further encouraged the public to use recognised financial institutions when conducting transactions involving large sums of money to reduce the risk of receiving counterfeit currency.