The Drug Enforcement Commission has arrested a Congolese electrical engineer and a Zambian businessman for siphoning huge sums of money from other people’s off-shore accounts which are held in foreign Banks.
Richie Kabamba Muya, 36 a resident of Katuba Congo was arrested together with Mark Mubaluma, 33 a Zambian businessman based in Namibia for swiping over US $ 15,000 belonging to an Egyptian based in Egypt.
“The two used a hi-tech device to capture the password and other sensitive personal banking details to fraudulently duplicate Visa Electron Cards,” Said DEC public relations manager John Nyawali who disclosed the arrests to the Watchdog.
The money was transferred into various accounts of the hotels, casinos and shops from which they acquired goods and services.
The trio was arrested as they attempted to claim for a cash refund after swiping at an identified hotel in Lusaka.
The amount of money laundered is likely to increase considerably as this is just one of the identified cases, according to Nyawali.
The duo has been denied bond as it has no fixed aboard in Zambia.
Meanwhile, a 55 year old businessman of Lusaka has been arrested for money laundering activities involving over K200 million.
Musa Dimingo, a resident of Banaventure in Makeni was arrested for stealing a total of K280 million which was credited to his account in error by another bank.