MPS Issues Warning Over Social Media “Rent-a-Bank Account” Schemes

The Maldives Police Service (MPS) has reminded the public that allowing others to use or control an individual’s bank account constitutes a criminal offence, warning that legal action will be taken against those involved in such activities.

The reminder comes amid a rise in social media posts offering a “daily wage” in exchange for renting or handing over control of personal bank accounts.

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In a press statement, MPS said such advertisements have appeared on platforms including TikTok and Telegram, where users are encouraged to provide access to their accounts in return for payment.

The police said these activities violate both the Maldives Banking Act and the Prevention of Money Laundering and Financing of Terrorism Act, adding that they could result in serious financial crimes and losses.

MPS warned that allowing others to use personal bank accounts could lead to money laundering and terrorist financing, and described it as facilitating criminal activity through so-called “money mule” arrangements.

The police stated that individuals remain legally responsible for all transactions carried out through their accounts, even if another person conducts them. It added that claiming ignorance of criminal activity would not exempt account holders from liability.

MPS also noted that under the Maldives Banking Act, sharing account details such as usernames, passwords, PINs and one-time passwords (OTPs) breaches agreements with financial institutions. It said banks would not take responsibility for resulting losses, and accounts may be frozen if suspicious activity is detected. Authorities may also restrict access to financial services where necessary to protect the financial system.

The statement further said that financial institutions may share suspicious transaction information with the Maldives Monetary Authority’s Financial Intelligence Unit (FIU).

MPS urged the public not to respond to online offers promising easy money in exchange for account access and warned against sharing any banking credentials.

It also advised the public to report suspicious activity to the national emergency number 911 or the Anti-Scam Centre on 125, extension 2020.

The police reiterated that they will take legal action against individuals involved in such offences under the relevant provisions of the Prevention of Money Laundering and Financing of Terrorism Act.