Zacc struggles to recover US$1bn tainted assets

ZIMBABWE’S weak extra-territorial judicial systems are hindering the Zimbabwe Anti-Corruption Commission (Zaac) from recovering looted funds that are suspected to be stashed in foreign countries, NewsDay has established.

The revelation comes amid reports that the anti-graft body is struggling to reach its target to recover at least US$1 billion worth of tainted assets from proceeds of crime.

This was revealed during the Financial and Asset Recovery Training workshop held in Harare recently, where prosecutor-general Justice Loyce Matanda-Moyo said the government had already set the ball rolling to ensure that proceeds of corruption hidden outside Zimbabwe are tracked and repatriated.

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