MMA shuts down illegal money sender overseas

Maldives Monetary Authority (MMA) has said that they have taken steps against service sending money abroad illegally.

A statement issued by the MMA said that they received information that B-Cash Money Transfer is being operated without a money transfer license and publically advertising about sending money to Bangladesh.

The information was reported to the relevant authorities and legal steps have been taken against them after reviewing the situation.

Money transfer service in the Maldives is only permitted with a permit issued by the MMA. It is illegal to do so without the license.

MMA said that they would continue to take measures against those providing the money transfer service without the permit and requested that anyone with information regarding such an illegal service come forward with the information.