MMPRC Corruption: FIU's then-head decided against forwarding case to police

It has been revealed that Maldives Monetary Authority (MMA)’s then head of Financial Intelligence Unit (FIU), Athif Shakoor, had decided against forwarding a money laundering case to the police.

Anti-Corruption Commission (ACC)’s investigative report into the matter noted that a Suspicious Transaction Report received by the FIU alleges that it was used to fund unlawful activities.

However, the report says its investigation “clearly” shows that Shakoor had made the decision to not forward the case on 6th April 2015. He had also confessed to this during ACC's investigation.

Further, ACC noted that FIU had failed to take any action despite huge sums of state funds being laundered into a private account, giving it undue benefits.

Citing FIU’s analyst report, ACC said that SOF- the private company implicated in the corruption scandal -had received a total of USD 22,100,000 through state owned Maldives and Marketing and Public Relations Corporation (MMPRC). This includes USD 9,100,000 deposited between August to November 2014. The company is to have withdrawn MVR 47,500,000 (USD 3,080,415), through a total of eight transactions.

ACC noted that an analyst report compiled by FIU on 31st August 2014 highlighted various money laundering allegations, and urged to file the case at MMA’s Financial Sector Division to conduct a Customer Due Diligence (CDD) report.

While FIU’s report was completed in 2014, a money laundering case against then President Abdulla Yameen was first submitted to police in September 2018.

While the Financial Intelligence Unit was created under article 27 of the prevention of money laundering and financing of terrorism act in 2014, article 30 notes that it ‘shall have independent decision-making authority over matters within its responsibility and autonomy over the use of its budget’.