Police Recover Over MVR 80,000 in Fake Bank Transfer Fraud Case

News

Maldives Police Service has recovered over MVR 80,000 in connection with a fraud scheme involving fake bank transfer slips, used to illegally obtain goods from multiple businesses in Malé and Hulhumalé.

The investigation was launched in May following a complaint from a Hulhumalé-based retail outlet, which reported receiving falsified payment confirmations in exchange for goods. Subsequent inquiries revealed that several other businesses across the capital had also been targeted by the same scheme.

Police apprehended the suspects on June 17, with surveillance footage reportedly linking the fraud operation to two apartments in the Hiyaa housing complex. A search of the premises led to the recovery of items believed to have been acquired through fraudulent means.

A local Maldivian suspect was remanded for 15 days, while a Bangladeshi suspect was remanded for five days as the investigation continues.

Police have confirmed that the recovered funds have been returned to the affected vendors. Investigators are continuing efforts to uncover further evidence and determine whether additional individuals were involved in the scheme.

Authorities have reiterated the importance of verifying digital payment confirmations and urged businesses to remain vigilant against fraud attempts.