Police arrests expat departing with large sums of foreign currency

Police taking a man under custody. PHOTO/POLICE

Police taking a man under custody. PHOTO/POLICE

Police arrested an expatriate at Velana International Airport early Monday attempting to leave the country illicitly carrying over MVR 1 million in foreign currency.

Mihaaru understands that the Bangladeshi national was carrying USD 86,255 (MVR 1.3 million), EUR 2,400 (MVR 38,000) and MVR 2,400 when he was arrested. His attempted destination remains unclear.

Police has confirmed the arrest, stating that the investigation is currently ongoing.

The regulations of Maldives Monetary Authority (MMA) dictate that individuals carrying over USD 30,000 into or out of the Maldives must report it to Maldives Customs Service beforehand.

Under the Prevention of Money Laundering and Terrorist Financing Act, it is the responsibility of the individual to prove the means or source of the currency in cases of inquiry.

Police had previously arrested another expatriate attempting to depart with a large sum of foreign currency. The expatriate has since been released.

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