Majlis Committee Launches Probe into Online Scam and Pyramid Scheme

The Parliament’s Committee on Information and Communication Technology has decided to investigate online scams and pyramid schemes, following growing public concern over increasing financial fraud cases.

The inquiry was initiated after MP for Hithaadhoo constituency, Mohamed Siruhaan, raised alarm over the rising number of victims involved in such schemes. His proposal comes at a time when police are investigating a recent high-profile pyramid scheme known as GEMCUE or GMCE, which has reportedly collapsed. According to sources, the scheme involved more than 50,000 Maldivians, with an estimated USDT 23 million (approximately MVR 400 million) invested before its crash, resulting in significant financial losses for participants.

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Siruhaan proposed summoning all relevant authorities to thoroughly investigate the matter. A majority of the committee members present during the session supported the proposal, paving the way for a formal probe.

Today’s meeting also featured discussions with officials from the National Centre for Information Technology (NCIT), focusing on issues related to misinformation, disinformation, and unethical content on social media platforms.

During the session, MP for Maduvvari constituency, Ahmed Zahir, noted that 73 countries have either banned or imposed restrictions on social media. He questioned whether age restrictions could be introduced in the Maldives. In response, NCIT officials clarified that their role does not include regulation, which instead falls under the mandate of the communication authority.

An NCIT representative added that while their centre cannot enforce regulations, each country retains the right to define age groups for access to digital platforms and even restrict or ban social media usage if deemed necessary.

The committee’s decision signals a significant step in addressing online financial fraud and digital safety concerns in the Maldives.