Customs seizes millions in undeclared foreign currency

Maldives Customs Service has seized millions in foreign currency in three separate cases of money smuggling.

According to Customs, the foreign currency seized in the interceptions - which spanned the last two months – from December to end of January - was valued at MVR 4 million.

Two of the operations took place on December 12. The first case involved a 29-year-old Maldivian male who attempted to smuggle out MVR 2.1 million in foreign currency, and the second involved a 33-year-old Bangladeshi male who attempted to smuggle out MVR 617,139 in foreign currency.

The third interception took place on January 22 and involved a 31-year-old Maldivian male who attempted to smuggle out MVR 1.3 million in foreign currency.

All three cases have been forwarded to Maldives Police Service for criminal investigations.

Counter-Money Laundering and Terrorism Finance Act requires the export of foreign or local currency exceeding USD 20,000 to be declared with the Customs.