Financial Intelligence Unit
The Maldives Financial Intelligence Unit sits within the Maldives Monetary Authority. It receives, analyses, and disseminates suspicious transaction reports to competent authorities.
South Asia · Country coverage
AML/CTF Compliance in Maldives
The Maldives regulates AML/CTF through its Financial Intelligence Unit and Law No. 10/2014. See the obligations and how MemberCheck supports them.
Last updated
Screening coverage for Maldives
- Sanctions & PEP screening
- Adverse media checks
- Customer identity verification
- Jurisdiction risk checks
- Ongoing monitoring
Key facts
AML supervisor / FIUFinancial Intelligence Unit, Maldives Monetary Authority
FATF statusAPG member (FATF-style regional body)
Primary legislationPrevention of Money Laundering and Financing of Terrorism Act (Law No. 10/2014)
Overview
AML/CTF compliance in Maldives.
The Maldives anchors its AML/CTF framework in the Prevention of Money Laundering and Financing of Terrorism Act (Law No. 10/2014), which underpins the work of the Financial Intelligence Unit housed within the Maldives Monetary Authority. As a member of the Asia/Pacific Group on Money Laundering, the Maldives works toward the FATF Recommendations that shape expectations for reporting entities.
Financial institutions and other reporting entities must run customer due diligence, identify beneficial owners, keep records, monitor transactions, and report suspicious activity to the Financial Intelligence Unit. Supervisors expect documented risk assessments and continual staff training.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Regulation
All solutions →Key laws and regulators.
Maldives Monetary Authority
The Maldives Monetary Authority is the country's central bank and financial regulator. It supervises financial institutions and issues AML/CTF guidance for reporting entities.
Prevention of Money Laundering and Financing of Terrorism Act (Law No. 10/2014)
The Maldives' principal AML/CTF statute. It sets customer due diligence, record-keeping, and suspicious transaction reporting duties for reporting entities.
Asia/Pacific Group on Money Laundering (APG)
The Maldives is a member of the APG, a FATF-style regional body. Members work to align their regimes with the FATF Recommendations.
Obligations
What regulated businesses must do.
- Customer due diligence on customers and beneficial owners
- Identify and verify beneficial ownership
- File suspicious transaction reports (STRs) with the FIU
- Ongoing monitoring of customer transactions
- Conduct AML/CTF risk assessments
- Staff training and record keeping
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Who supervises AML/CTF in the Maldives?
The Maldives Financial Intelligence Unit, which sits within the Maldives Monetary Authority, receives and analyses suspicious transaction reports. The Maldives Monetary Authority also supervises financial institutions.
What is the main AML law in the Maldives?
The Prevention of Money Laundering and Financing of Terrorism Act (Law No. 10/2014) is the principal statute, setting customer due diligence, record-keeping, and suspicious transaction reporting obligations.
Is the Maldives a member of FATF?
The Maldives is not a FATF member, but it is a member of the Asia/Pacific Group on Money Laundering (APG), a FATF-style regional body that promotes the FATF Recommendations.
How does MemberCheck support AML compliance in the Maldives?
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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