Six expatriates have been detained in a major crackdown on illegal foreign currency trading after authorities traced more than MVR 54.4 million and USD 1.62 million through their bank accounts over the past three years.
Maldives Police Service said Sunday that the suspects were detained under Maldives Immigration custody during joint operations conducted by Police and Immigration as part of a task force targeting unauthorized foreign currency transactions.
Police identified the detainees as four Bangladeshi nationals and two Indian nationals:
- Mohammad Rahul, Bangladeshi, accountant
- Masudh Mia, Bangladeshi, waiter
- MD Fareed Uddin, Bangladeshi, driver
- Dulkarnai Imrankhan, Indian, engineer
- Mohamed Asath Kalandar Hussain, Indian, salesperson
- Mohammad Mahamudur Hasan, Bangladeshi, cleaner
Investigators found that MVR 54,429,550 and USD 1,627,810 had circulated through accounts linked to the six suspects during the past three years.
According to Police, the expatriates were allegedly engaged in foreign currency exchange activities outside the scope of their authorized employment.
The task force’s investigation has also uncovered bank accounts belonging to private individuals and businesses that were allegedly being managed by expatriates and used to move funds obtained through illicit activities.
Police issued a strong warning to account holders, saying anyone who knowingly allows another person to use their bank account for illegal transactions could face legal action as an accomplice.
Authorities said investigations will continue to identify individuals involved in illegal currency trading and take action against them.
