Police are conducting a raid on the offices of a company accused of conducting money exchange business without the necessary permits. This is the first such operation conducted by police. 

In a social media post today, police said that they are currently searching the offices of Naid Investment Pvt Ltd, on suspicion that they are conducting wide-scale foreign currency exchange services without the necessary license from MMA. 

Police also said that bank accounts used in foreign currency exchange by the company have been frozen. 

Police further said that currently an operation is underway where the firm's offices in Dhanbu Goalhi, Maafannu, are being searched for additional evidence. 

Naid Investments Pvt Ltd is the operator of Furaveri Maldives Resort in Raa atoll. 

The search comes after police announced yesterday that relevant government institutions have formed a taskforce to identify and take legal action against those engaging in illegal foreign currency exchange transactions. 

Yesterday, a similar operation by the taskforce saw six expatriates arrested for illegal dollar sales. The six expatriates - four from Bangladesh and two from India - have since been handed over to Maldives Immigration. All six held valid work permits, but were engaging in exchange businesses outside the boundaries of the issued permits, the investigation found. 

Police said that the investigation so far has revealed that MVR 54.4 million and USD 1.6 million had been circulated in the accounts of these six individuals over the past three years.