Police on ‘renting’ bank accounts: Possible criminal prosecution, ban on banking services

Maldives Police Service has observed a rising prevalence of bank account “renting” schemes and has warned the public that involvement in such activities may result in criminal prosecution as well as a potential ban on banking services.

In a social media post on Thursday, the Police Anti-Scam Center said there has been an increase in advertisements circulating across various social media platforms offering to rent bank accounts or promising easy financial gain in exchange for providing account access.

Referring to these practices, the Police stressed that they enable serious criminal activity, including money laundering. The authority cautioned that individuals involved risk facing criminal charges and a potential ban on accessing banking services.

The Police further issued a stern warning that coordinated action will be taken against both individuals who offer their accounts for rent and those who attempt to obtain them.

The public has been urged to avoid sharing or engaging with advertisements related to such schemes and to report any suspicious activity immediately.