Six Bangladeshi nationals have been arrested at Velana International Airport after authorities allegedly found foreign currency worth more than MVR 3.86 million concealed inside cereal packets.
The men were detained on Friday while attempting to board a flight to Dhaka, according to Maldives Police Service.
The operation followed information received by a joint task force established to investigate illegal foreign currency trading. Police said the group was carrying currency from 18 countries with a combined value of MVR 3,861,415.29.
The money included USD 174,161, EUR 56,760 and GBP 1,815, in addition to other currencies. Photographs released by police showed bundles of cash hidden inside Ye Ye cereal packets.
All six men remain in police custody while the case is investigated. Authorities have not disclosed where the money originated or whether other individuals are suspected of involvement.
Recent amendments to the Foreign Currency Act prohibit advertising or promoting foreign currency transactions at rates above those officially determined by the Maldives Monetary Authority.
Publishing or circulating black market exchange rates through digital platforms or other channels can result in fines of up to MVR 500,000 for individuals and MVR 5 million for legal entities or registered businesses.
