Bank of Maldives Ltd (BML) has suspended two employees in relation to an embezzlement case, according to local reports.
Media outlet Mihaaru revealed that the main bank is currently undertaking a serious internal investigation into an embezzlement issue, regarding which two staff have been dismissed.
Reports say that the culprits had embezzled millions from the bank's operational funds, but not from any customer deposits.
The exact sum of stolen funds is yet unclear, as BML is still carrying out an internal audit. However, allegations put the number at MVR 8 million.
BML is probing the embezzlement as an internal issue, and is yet to file a police case.
A bank official stated that BML has strong policies, regulations and internal controls established in order to identify misconduct or neglect. The official further warned that BML would report any violations to investigative authorities, and take harsh action against perpetrators.
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