Police have arrested four people in connection with a banking scam that allegedly involved the theft of MVR 63,000 and USD 21,000 through unauthorised access to accounts.
Investigators said the scheme relied on obtaining one-time passwords (OTPs) from victims, often through social engineering or phishing messages. The funds were then transferred to accounts controlled by the suspects. The case came to light after multiple complaints from affected customers.
The four detainees include both Maldivian and foreign nationals. Police have not released their identities. Searches were conducted at several locations, and electronic devices were seized for forensic examination.
Banking fraud of this type has increased in recent years as more transactions move online. Authorities have previously warned the public never to share OTPs or personal details with anyone claiming to represent a bank. Financial institutions have also strengthened monitoring of unusual transfer patterns.
The suspects remain in custody while the investigation continues. Prosecutors are expected to review the evidence before deciding on formal charges. Victims have been advised to contact their banks and police if they notice unauthorised activity.
Similar cases in the past have resulted in convictions once digital trails were established. Police said further arrests are possible as the probe expands.
