Circular CN-FIU/2022/6: Advisory on Increase in Fraud and Ponzi Schemes

بسم الله الرحمن الرحيم

[MALDIVES MONETARY AUTHORITY LOGO]

Circular No: CN-FIU/2022/6

URGENT & CONFIDENTIAL

10 March 2022

To: ALL BANKS.

Advisory: Increase in Fraud and Ponzi Schemes

It has come to our attention that cases of fraud and Ponzi Schemes have increased recently, including collection of funds from the general public by promising large returns through alleged investment schemes.

Therefore, all banks are advised to be extra vigilant, keeping your customers informed while continuing to conduct enhanced due diligence practices as per Bank policies.

Thank you for your continued cooperation.

Yours Sincerely,

[Signature]

Ibrahim Ahmed Nasir
Head of Financial Intelligence Unit

CC:
Banking Supervision Division, Maldives Monetary Authority

Phone: +960 3314940 / +960 3339880 :ގުޅުއްވާ Fax: +960 332 3862 :ފެކްސް Email: mail@mma.gov.mv :އީމެއިލް SWIFT: MMAUMVMV :ސްވިފްޓް

Maldives Monetary Authority mma.gov.mv