Economic Minister Mohamed Saeed has announced that an investigation into possible money laundering through expatriate bank accounts will begin soon.

Speaking at a press conference at the President’s Office, Saeed said authorities have received numerous complaints about expatriates operating shops and businesses in the Maldives. He noted that many of these businesses are officially registered under Maldivian names.

According to the Minister, inspections are being carried out to determine whether expatriates working in these establishments are employed illegally. Those found to be working without proper authorization will be handed over to Immigration authorities.

Saeed said the government has also advised relevant agencies to investigate the circulation of money through MIRA accounts and expatriate bank accounts to identify possible links to illegal business networks.

“We are now working on that, and within a few days, we will know whether the money is being circulated in foreign accounts or how much linkage exists within such business networks,” he said.

The Minister revealed that since November, authorities have inspected 242 establishments and shut down 102 of them. Among the closures were 57 illegal businesses and 45 salons and spas.

He also said 409 complaints related to expatriates had been received, while 61 establishments were later allowed to reopen after making necessary improvements.