65 cases reported involving illegal foreign currency trading
10 ސެޕްޓެމްބަރު 2026 | ބުރާސްފަތި 08:16Police have disclosed details regarding 27 expatriates and 18 establishments involved in unauthorized foreign currency exchange, alongside four businesses operating in violation of regulations and 16 online platforms facilitating such illegal transactions.
A photograph of US dollar banknotes. | getty images
The Maldives Police Service has announced that 65 cases involving individuals engaged in illegal foreign currency exchange operations have been reported.
In a press release issued Wednesday, the police stated that the hotline established to report illegal foreign currency transactions in the Maldives has received 65 messages relevant to the task force's mandate.
Police stated that this includes information on 27 expatriates, 18 establishments involved in unauthorized foreign currency exchange, four locations operating illegal currency businesses, and 16 online platforms used for such transactions.
Police have confirmed that one of the foreign nationals reported in connection with these cases is currently in the custody of Maldives Immigration. The institution further stated that efforts are underway to verify the identities of the other reported individuals and to take the necessary legal actions against them.
The police have expressed their gratitude to the public for the cooperation received regarding this matter.
The Maldives Police Service established a special task force in September to identify and report individuals conducting illegal foreign currency exchange operations without a valid money-changing license issued by the Maldives Monetary Authority (MMA).
The task force has requested the public to report information regarding those engaging in such illegal transactions by contacting 9388733.
