Home Minister Ali Ihusaan has urged the public to be vigilant over a fake letter circulating on social media that claims the Home Ministry asked the Bank of Maldives (BML) for information on customers involved in foreign currency transactions.

The letter, addressed to BML CEO Mohamed Shareef and purportedly signed by Minister Ihusaan, claims the ministry sought information as part of government efforts to prevent the sale of US dollars above the official exchange rate set by the Maldives Monetary Authority (MMA).

It requests information on holders of money-changing licenses, as well as six months of bank statements and personal information of customers who have deposited more than USD 500 into their accounts.

In a post on X, Ihusaan said the Home Ministry is not a criminal investigation agency and had not sent any such letter to BML or any other financial institution seeking customer information.

He urged the public not to create or circulate fake documents using the names of government institutions or spread information that could cause public unrest.

BML also confirmed that the letter is not authentic.

“We would like to take this opportunity to inform you that there is an inauthentic letter circulating on social media claiming that the Ministry of Homeland Security, Labor and Technology has sent a letter to this bank requesting customer information,” the bank said in a statement shared with the media last night.

BML said it provides customers’ banking information only under a court order, in accordance with the Banking Act, or upon a written request from an authorized investigating agency.

The fake letter comes amid increased government efforts to curb the black market for USD.

President Dr Mohamed Muizzu ratified an amendment to the Foreign Exchange Act on Monday requiring resorts to exchange 40 percent of their monthly gross sales in foreign currency through Maldivian banks.

Six expatriates were detained by the Immigration Department last night for allegedly engaging in unauthorized foreign currency trading.

The six were arrested during an operation by a special task force formed by state agencies to identify people involved in unauthorized foreign exchange transactions.

The group comprises four Bangladeshis and two Indians.

Police said preliminary information from the investigation showed that a total of MVR 54.43 million and USD 1.63 million had circulated through the six individuals’ accounts over the past three years.