The Maldives Police Service (MPS) has issued a stern warning against the growing trend of individuals renting out their personal bank accounts to third parties, stating that such actions facilitate money laundering and other serious financial crimes.

According to the Police Anti-Scam Center, advertisements have been circulating on social media platforms, including Telegram and TikTok, promising easy income in exchange for account access. Authorities highlighted that sharing sensitive information, such as One-Time Passwords (OTPs) and PIN codes, provides a gateway for criminals to conduct fraudulent transactions and syphon funds illegally.

The police emphasized that under current regulations, the legal responsibility for all financial transactions lies solely with the account holder. Consequently, individuals found renting out their accounts may face criminal investigations and could be permanently barred from accessing any banking services provided by financial institutions in the Maldives.

Bank of Maldives (BML) has also reported observing similar patterns of account misuse. The police have urged the public to stop disseminating posts seeking to rent accounts and to report any suspicious activities to the authorities immediately to avoid severe legal repercussions.