Two foreign nationals have been detained for unlawfully trading dollars at elevated rates.

Authorities informed the press on Tuesday that the detentions occurred after receiving a tip to the hotline set up for reporting illegal foreign exchange operators.

Police reported that the two individuals were arrested for carrying out foreign currency transactions without authorization. The detained persons have been recognized as Pradeep Cholakotil Sankaranayan, an Indian citizen, and Mohamad Russell Mia, a Bangladeshi citizen.

Authorities stated that the matter is still being investigated.

Officials have called on the public to provide information regarding people involved in illegal foreign exchange operations, such as trading foreign currency without a license from the Maldives Monetary Authority (MMA). Information can be communicated to the task force at 9388733 using SMS, Viber, or WhatsApp.

Authorities reported that earlier this week, three Bangladeshi individuals were arrested on allegations of illegal and inflated foreign currency trading after a tip was received on the same hotline.