Title: Maldives Police Arrest Suspect in Counterfeit Telegraphic Transfer Fraud Case Involving Foreign Companies

Subtitle

• A 37-year-old Maldivian man was apprehended for allegedly using counterfeit telegraphic transfers to target foreign businesses.

Arrest and Ongoing Investigation

• The Maldives Police Services arrested a 37-year-old Maldivian man during the first week of March 2023.
• The individual is suspected of using counterfeit telegraphic transfers to target foreign companies.

Details of the Fraud

• The suspect is currently under interrogation with investigators piecing together the case.
• It is believed that multiple companies from various regions have been targeted.
• The Maldives Police Service spokesperson revealed that the suspicious transactions were made to some foreign companies.

Cooperation between Authorities

• The arrest is a result of a joint effort by the Maldives Police Service, foreign embassies, and international financial organizations.

Tips for Companies

• The Maldives Police Services have advised companies to be vigilant and check their financial transactions.
• In case of any dubious activity, they recommend contacting the Maldives Police Service or the relevant financial institutions for further action.

Security Recommendations

• The Maldives Police Service recommends using banking security features such as two-factor authentication and encryption for safer financial transactions.

Continued Investigation and Updates

• As the investigation continues, more updates and details regarding the case will be released by the Maldives Police Service.