The Maldives’ central bank has taken action against a group of people caught illegally transferring money to Bangladesh.
In a statement released by Maldives Monetary Authority (MMA), it stated that the money was transferred in the name of B-Cash. The information was given to the respective authorities and action taken against them according to the Constitution.
MMA noted that money transferring is authorised only upon receiving a license from MMA.
“The licensed money transfer entities will be publicized in MMA’s website. It is a criminal offence to provide the service without the license,” read the statement.
MMA also urged people to come forward with information on any such suspicious activities.