Home Minister Ali Ihusan stated today that it has been observed that even when telegraphic transfers (TTs) are made through banks to release foreign currency for importing goods from abroad, those goods are not being brought into the Maldives.

Speaking at a media briefing held at the President's Office today, Minister Ihusan stated that it was discovered that goods related to TTs were not being brought into the Maldives through work done under an MOU signed with the Bank of Maldives. While goods linked to TTs are delayed in arriving, he noted that some people claim these are advance payments, but the goods do not arrive even after a year passes.

"We have observed that some individuals processing large amounts through TTs—while working under the MOU recently signed between the bank and Customs—do not bring in any goods related to these TTs. They claim it is paid as an advance payment, yet no goods arrive even after a year passes."" Ihusan stated.

He stated that in some situations where goods related to TTs do not arrive, the individuals doing so claim it is the balance payment for goods already received that had remained unpaid. However, he also stated that the goods listed in the invoices presented with such claims have not arrived in the Maldives either.

"This is called trade-based money laundering. We are now observing that this route is being used for drug trafficking and remitting expatriate salaries abroad," Ihusan stated.

He also stated that these issues are trade-based money laundering cases that will be criminally investigated and acted upon. Furthermore, he noted that everyone must obey the laws, and that the fact that a law was not previously enforced should not be taken as an opportunity to commit offenses.