ZIMBABWE'S Financial Intelligence Unit (FIU) has challenged university students to use their skills, education and creativity to develop innovative solutions that promote transparency and accountability in the fight against financial crimes.
The call comes amid growing concerns globally and locally over increasingly sophisticated financial crimes, including money laundering, fraud, cyber-enabled scams and illicit financial flows, which continue to undermine economic development and public trust.
Speaking during the FIU Day awareness campaign at the University of Zimbabwe (UZ) on Tuesday, FIU director-general Oliver Chiperesa said understanding financial risks was the first step towards protecting society from financial crimes.
“Understanding these risks is the first step towards protecting ourselves and others,” he said.
“By using your education, skills, and creativity to develop solutions that strengthen transparency and accountability, whether you pursue careers in finance, law, information technology, accounting, business, public policy, or any other field, your contribution can help build stronger institutions and more resilient financial systems.”
Chiperesa said financial crimes had far-reaching consequences, diverting resources away from development, undermining public trust, fuelling corruption, weakening institutions and depriving communities of opportunities for growth.
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“Every dollar lost through financial crime is a dollar that could have been invested in education, healthcare, infrastructure, or job creation,” he said.
He said students, as future leaders, professionals, public servants and innovators, had a critical role to play in upholding integrity in both their personal and professional lives.
“The fight against financial crimes begins with individual choices and ethical conduct,” Chiperesa said.
He urged students to become informed and responsible digital citizens, warning that young people were increasingly being targeted by online scams, investment fraud, identity theft schemes and recruitment into criminal activities disguised as legitimate opportunities.
Chiperesa said innovation and technology would be central to the future of financial intelligence as criminals continued to adopt sophisticated methods.
“These disciplines are becoming increasingly important in the global effort to combat sophisticated criminal networks. The future of financial intelligence will depend greatly on innovation and technology, and there is tremendous opportunity for young developments like you to contribute to this evolving landscape,” he said.
He said the FIU valued partnerships with institutions of higher learning and expressed commitment to strengthening collaboration in research, awareness and capacity building.
“We therefore value our engagement with institutions such as the University of Zimbabwe and look forward to strengthening collaboration in areas of research, awareness, and capacity building. I encourage each of you to be ambassadors of integrity, accountability, and responsible citizenship. Let us work together to build a society where financial systems are trusted, opportunities are fairly earned, and crime does not profit at the expense of our nation's development,” he said.
UZ head of the Department of Finance and Accounting, Shepard Makurumidze, said the awareness programme was insightful and welcomed the opportunity to collaborate with the FIU in areas such as research and lecturing.