The Economic Crime Department of the Maldives Police Service (MPS) has reported a loss of over USD4 million in fraudulent extortion cases since 2021.
In a press conference, MPS disclosed that USD2 million was lost by individuals from the end of last year to January of the current year alone. It said that banks, along with police and relevant agencies, have successfully recovered millions of dollars from these funds.
Head of the Economic Crime Department, Superintendent of Police Abdulla Rasheed revealed that 28,003 cases of fraud have been reported since 2021, resulting in a cumulative loss of over USD4 million. He said that despite a decrease in the number of cases in 2023 (971 cases), the monetary losses were higher, primarily attributed to account hacking and unauthorised money transfers.
Additionally, Rasheed further highlighted that fraudulent activities encompass scams related to flats and land transactions, various promotions, online businesses, and dollar transactions. He said that a scam centre is slated to be established to identify and resolve such cases in collaboration with relevant authorities. He also said the initiative is set to commence in March, with the aim of establishing the center within this year.
In addition to combating fraud, MPS is engaged in raising public awareness about scams. It involves information sharing and awareness programmes conducted in collaboration with banks, facilitated by the police, to empower the public against falling victim to scams.