Bank of Maldives to Block Overseas Card Use Unless Cardholder Is Abroad

The Bank of Maldives (BML) is implementing a new security measure that requires cardholders to be physically outside the Maldives before overseas debit or credit card transactions are approved. The bank stated that this move is a critical response to the increasing prevalence of financial crimes and card fraud. To enforce this, BML is collaborating with Maldives Immigration to create an automated verification system. This system will check a customer's travel status in real-time before authorizing any Point of Sale (POS) or ATM transactions made outside the country. The primary goal is to prevent unauthorized parties from using cloned cards for overseas spending while the actual account holder remains within the Maldives. Bank officials clarified that this security layer applies specifically to physical transactions abroad. It will not affect online shopping or e-commerce transactions, which will continue to operate under existing security protocols. Addressing potential privacy concerns, BML emphasized that it will not share sensitive customer information. The agreement with Maldives Immigration is strictly limited to facilitating travel verification. Furthermore, the bank noted that cardholders have already consented to such verification checks under the existing terms and conditions of their accounts. This initiative is part of a broader effort to align the Maldives' banking sector with international payment security standards. By integrating travel data with financial transactions, BML aims to strengthen fraud protection and restore customer confidence in the safety of their card usage during a period of rising digital threats.