MoneyGram claims compensation in relation to fraud case

Maldives Post Limited has said that MoneyGram has claimed compensation in relation to the hacking and fraudulent transfer of MVR 4.9 million to a foreign country earlier this year.

Managing Director of the government-owned company, Maldives Post Limited, Badruddeen Naseem said today that the case is under investigation by the police.

“Since the case is under police investigation, the party at fault is not yet known. However MoneyGram has initiated efforts to claim the money they lost. We will only fully understand what happened after the police investigation,” he said.

Sun Online has come to know that efforts are under way by MoneyGram to file the case for arbitration in the UK.

Badruddeen however said that despite ongoing communication with MoneyGram in relation to this case, they have not been informed of MoneyGram having gone for arbitration.

A police media official said that the case has been categorised under cybercrime, and that it is under investigation by the Maldives Police Cybercrime Department.

Maldives Post Limited has said that MoneyGram services, which have been suspended until the investigation is completed, will resume only after confirming that similar incidents will be prevented in the future.

MoneyGram is a money transfer company founded in 1940, based in the United States. With 275,000 agents in 194 countries around the world, MoneyGram is the second largest money transfer company in the world.