Task Force Formed to Investigate Illegal Dollar Trading

Information can be submitted to the Task Force Operations number, 9388733, through SMS or messaging platforms including Viber, WhatsApp and Telegram.

Mohamed Hilmy

02 September 2026, 07:01

Police have formed a special task force to investigate individuals and businesses suspected of conducting foreign currency transactions without a licence from the Maldives Monetary Authority (MMA).

In a statement issued last night, Police urged the public to report information about parties involved in unauthorised foreign exchange activities.

Information can be submitted to the Task Force Operations number, 9388733, through SMS or messaging platforms including Viber, WhatsApp and Telegram.

“We assure that the identities and information of individuals who send messages and share information through this number will be fully protected. Furthermore, those providing information in this manner will not be required to participate in any investigative proceedings,” Police said.

The task force was established as authorities step up enforcement against illegal foreign currency trading amid the dollar shortage in the Maldives. Recent amendments have strengthened the legal framework governing foreign exchange activities, while the MMA has also taken action against licensed operators that violated regulations, including revoking the licence of one money exchange company.

Police previously arrested six foreign nationals on suspicion of trading dollars on the black market. According to Police, accounts linked to the suspects recorded transactions totalling approximately USD 1.6 million and MVR 54 million over three years.

Task Force Formed to Investigate Illegal Dollar Trading

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