Customs seizes millions in undeclared foreign currency

Undeclared foreign currency seized by Maldives Customs Service. (Photo/Maldives Customs Service)

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.