Financial Crime World

Financial Crime Statistics and Trends in Maldives on the Rise

Malé, Maldives - The Maldives has witnessed a significant increase in financial crime statistics over recent years, with incidents of theft, bribery, and fraud becoming more frequent. This trend raises concerns about the country’s ability to maintain a safe and secure environment for its citizens and tourists.

Financial Crime Statistics on the Rise

  • According to data from the Ministry of Defence and National Security, petty crimes have increased by 173% between 1992 and 1996.
  • The number of sentenced persons under the age of 19 has also seen a significant increase, rising from 391 in 1988 to 512 in 1998.

Juvenile Delinquency: A Growing Problem

The trend suggests that juvenile delinquency is becoming a growing problem in the Maldives. This requires immediate attention and action from the government to address the root causes of this issue.

Terrorism Threat Remains a Concern

  • The Department of Foreign Affairs and Trade (DFAT) of the Government of Australia advises tourists to exercise caution due to the high threat of terrorism.
  • Travelers visiting the Maldives are advised to stay informed about local conditions and follow government advice.

Corruption Perceptions Index Ranks Maldives 93rd

The Corruption Perceptions Index in 2023 ranked the Maldives 93rd best out of 180 countries, with a score of 39 on a scale of 0 to 100. This suggests that corruption is still a significant issue in the country.

Progress Made, but More Needs to be Done

According to Transparency International, the Maldives has made progress in reducing crime involving bribery and fraud, which declined by 33% between 1997-2002. However, more needs to be done to address the root causes of financial crime and improve transparency and accountability.

Increased Exposure to Global Financial Crimes

The Maldives’ increased exposure to global financial crimes is believed to be a major contributing factor to the rise in financial crime statistics.

Recommendations for the Government

To address financial crimes and improve transparency and accountability, the government should:

  • Strengthen laws and regulations related to financial crimes
  • Increase international cooperation to combat money laundering, terrorist financing, and other forms of illicit financial activity
  • Enhance public awareness about financial crimes through education and outreach programs