Foreigners Arrested Over Illegal Black-Market Currency Trading
31 އޯގަސްޓު 2026 | ހޯމަ 18:32Police have revealed that over 78 million MVR was circulated through the bank accounts of expatriates arrested in a recent crackdown on black market currency exchange over the past three years. Authorities further warned that legal action will be taken against individuals who permit their accounts to be used for illicit activities, following discoveries that Maldivian-owned accounts were utilized to facilitate money laundering in this case.
Police arrest six foreigners for illegal black market currency exchange. | police
Police have arrested six expatriates for operating an illegal black market dollar exchange.
The operation was conducted by a national-level task force established to identify black market currency traders, in collaboration with the Department of Immigration.
The police have released the photographs and identities of the foreign nationals arrested in connection with this case.
According to information shared with the media by the police, these individuals were engaged in the unauthorized buying and selling of foreign currency, operating outside their permitted scope of work. Investigations revealed that approximately $1.6 million and 54 million Rufiyaa had circulated through their bank accounts over a period of three years.
According to details released by the police, it has been observed that accounts and businesses registered under the names of certain Maldivians were being utilized to launder and circulate funds generated by expatriates engaging in illegal business activities. Authorities have characterized this as a matter of serious concern.
In a statement, the police reminded the public that allowing another individual to use one's bank account to facilitate illegal activities is a punishable offense. The authorities warned that account holders could face legal action as accomplices to the crime.
