Police have arrested a suspect for allegedly swindling MVR 500,000 through a scam.
In a message sent to media, police said a 23-year-old man was arrested in connection to a report made on February 13.
He was summoned to the Criminal Court on Saturday and the court remanded him in custody for 15 days, the police said.
Police said further investigations are underway.
There has been an increase in scams in recent years. Some scams are carried out by phone calls in the name of government institutions, banks or businesses.
During a press briefing held on Monday, police said a report had been made after MVR 1.8 million was scammed from an account in the Maldives Islamic Bank (MIB).
Economic Crime Department Head Superintendent of Police Abdulla Rasheed said the case was reported on February 3.
A total of MVR 1.8 million had been transferred from the account on several occasions and the police coordinated with local banks immediately, he said.
"With the work we did, we were able to recover about 98 percent of the lot money within 48 hours," he said.
Police said the four suspects involved in the case include a minor. Three of the suspects are in police detention.
