A dedicated task force has been created to gather intelligence on unlicensed foreign exchange operators, aimed at reducing illicit dollar trading.

Authorities have encouraged citizens to inform them about people involved in foreign currency dealings lacking a currency exchange licence from the Maldives Monetary Authority (MMA).

Individuals with knowledge are requested to text the task force’s operations number: 9388733.

Authorities stated that the number can be utilized to exchange information through SMS and messaging platforms like Viber, WhatsApp, and Telegram. They guaranteed that the identities of informants and the data they share will be thoroughly safeguarded.

Individuals who report these cases will not be obligated to engage in any investigative processes. Authorities expressed gratitude to the community for their assistance.

During a press conference on the 24th of last month, Home Minister Ali Ihusaan stated that seven unlawful money changers had been examined, and that USD 76 million had flowed through the black market in the last nine months.

The government has unveiled stringent actions to regulate black-market dollar transactions. It is forbidden to advertise or promote foreign currency at rates exceeding those established by the MMA. Disclosing, publishing, or spreading black-market rates via digital methods or any other means is also an offense.