Police Raid Male’ Locations Over Illegal Banking and Foreign Exchange Operations
Maldives Police Service raided an illegal currency exchange and unlicensed banking operation in Malé.
The Maldives Police Service (MPS) conducted a joint task force operation in Malé yesterday targeting an unlicensed banking and illegal foreign currency exchange operation.
MPS stated that officers attached to the Complex Financial Investigation Department within the Economic Crime Investigation unit carried out coordinated searches across multiple sites, focusing on individuals and locations suspected of involvement in unauthorised financial activities.
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During the targeted raid, law enforcement officers searched four foreign nationals, one Maldivian national, a local retail store, and a residential property occupied by a foreign national.
The special operation follows ongoing intelligence gathering and a widespread public appeal into illegal foreign exchange trading and shadow banking services operating outside regulated financial systems in the country.
MPS previously revealed that the enforcement action was heavily informed by community feedback, having received 65 public tips regarding illicit currency exchanges and unlicensed financial operations.
To facilitate tip-offs, law enforcement set up a dedicated task force hotline at 9388733, encouraging the public to send confidential information via SMS or messaging platforms such as Viber, WhatsApp, and Telegram, with authorities guaranteeing full anonymity for informants.
The law enforcement crackdown comes in the wake of legislative revisions that came into force on September 1, establishing harsh penalties such as fines reaching up to MVR 1 million for conducting currency transactions without a valid license or violating official exchange rate caps.
Authorities confirmed that further investigations into the case are currently underway as MPS works to disrupt illegal financial channels.
ދިވެހި ފުލުހުންގެ ޚިދުމަތުގެ އިކޮނޮމިކް ކްރައިމް އިންވެސްޓިގޭޝަންގެ ކޮމްޕްލެކްސް ފައިނޭންޝަލް އިންވެސްޓިގޭޝަނުން ތަހުގީގު ކުރަމުންދާ މައްސަލައަކާ ގުޅިގެން، ޓާސްކް ފޯސް ބައިވެރިވެގެން މިއަދު ވަނީ ބަލައި ފާސްކުރުމުގެ ހާއްސަ އޮޕަރޭޝަނެއް ކުރިއަށް ގެންގޮސްފައެވެ. މިއީ ހުއްދަނެތި ބޭންކިންގ ހިދުމަތް ދިނުމާއި، ހުއްދަނެތި ބޭރު ފައިސާ ގަނެވިއްކުމުގެ މައްސަލައަކާ ގުޅިގެން ހިންގި އޮޕަރޭޝަނެކެވެ. މި އޮޕަރޭޝަންގައި 4 ބިދޭސީއަކާއި ދިވެއްސެއްގެ އިތުރުން، ފިހާރައެއް އަދި ބިދޭސީއަކު ދިރިއުޅޭ ތަނެއް ވަނީ ބަލައިފާސްކޮށްފައެވެ. މި މައްސަލަ ދިވެހި ފުލުހުންގެ ޚިދުމަތުން ގެންދަނީ އިތުރަށް ތަހުގީގު ކުރަމުންނެވެ.— Maldives Police (@PoliceMv) October 6, 2026
