Counterfeit US Dollar Notes Flood Maldives Market: Police Urge Caution

The Maldives Police Service has issued a stark warning about an influx of counterfeit US dollar notes, predominantly in denominations of 100, 50, and 20 dollars, that have been recently circulating in the market. This alarming development has prompted an urgent investigation by the authorities into several incidents of business transactions conducted using these fake currencies.

In a significant breakthrough in the case, a 57-year-old man has been apprehended for his alleged involvement in the distribution of counterfeit dollars. Following his arrest, he was presented before a court and has been remanded in custody for a 15-day period pending further investigations.

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This recent spate of counterfeit currency circulation poses a serious risk to the integrity of financial transactions in the country. The Maldives Police Service is therefore urging the public to exercise heightened vigilance when handling US dollar transactions. They stress the importance of verifying the authenticity of dollar notes before accepting them in any transaction.

Businesses and individuals alike are advised to be particularly cautious and to report any suspicious currency to the authorities immediately. The Police have reiterated their commitment to safeguarding the economic interests of the citizens and maintaining the integrity of the currency system. They have also assured the public that they are taking all necessary measures to track down and apprehend those responsible for this fraudulent activity.

The circulation of counterfeit currency is a criminal offence and poses a threat to the economy. The Maldives Police Service’s swift action in this matter highlights their dedication to combating financial crimes and protecting the public from fraudulent activities.

Citizens are encouraged to stay informed about the features of legitimate currency notes and to use available resources to authenticate currency, especially in large transactions. The Police have also requested the cooperation of the public in their ongoing efforts to clamp down on this illicit activity and to maintain the security of the nation’s financial systems.

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