The Maldives Police Service has revealed that 65 cases have been reported via the dedicated hotline established to identify individuals and entities engaged in illegal foreign exchange transactions. Authorities confirmed that legal measures are being taken in response to these reports. The information received includes details of 27 expatriates, 22 establishments operating without a license or selling currency at inflated rates, and 16 online platforms. One expatriate has already been handed over to the Maldives Immigration for further action.
The Police stated that information regarding unauthorized currency exchange activities can be shared through messaging apps or SMS to 9388733, assuring that the anonymity of informants will be strictly maintained. As the black market trade of dollars has led to a scarcity of foreign currency in banks and contributed to rising commodity prices, the government aims to implement legislative reforms to ensure the public can access foreign exchange at official rates.
