MP Ahmed Zahir Advocates for Harsh Penalties to Combat Financial Scams

Maduvvari MP Ahmed Zahir has urged the Parliament to impose harsh penalties on individuals involved in financial fraud, highlighting the urgent need for a comprehensive approach to tackle the growing concern of scams in the Maldives. His remarks were made during a parliamentary discussion on the Criminal Procedure Code (Amendment) Bill, introduced by North Galolhu MP Mohamed Ibrahim.

The proposed amendment aims to prevent the movement of money through bank accounts in cases of financial scams, unless a court order permits it. MP Zahir, however, cautioned that the amendment alone would not fully resolve the issue, stressing that broader systemic changes are necessary to effectively combat fraud.

MP Zahir pointed to data released by the nationalised bank, which underscores the seriousness of the scam problem. He argued that understanding the amount of money held in bank accounts and tracking the flow of funds are critical steps in addressing the issue. He further suggested that an automated system should be implemented to monitor and capture suspicious financial activities.

"Withholding money without a court order is one approach, but a holistic strategy is needed to provide a lasting solution to the problem," Zahir stated. He also called for the imposition of strict legal penalties on those found guilty of engaging in fraudulent activities, emphasizing the importance of deterrence in combating financial crimes.

The debate on the amendment bill comes amid growing concerns over financial fraud in the Maldives, with lawmakers and financial institutions alike seeking more robust measures to protect citizens and the economy from the impact of scams.