MIFCO denies reducing staff allowances, ACC investigates fraudulent US$1 million transaction

The chairman of Maldives Industrial Fisheries Corporation (MIFCO) has denied rumours the company is to reduce staff allowances, while the Anti-Corruption Commission (ACC) has launched an investigation after US$1 million receivable to MIFCO was transferred to an incorrect bank account.

Speaking to Haveeru, MIFCO board Chairman Hassan Rasheed said the recent merging of the two state-owned fisheries companies with MIFCO had brought the need to “synchronise” the allowances as the employees were being paid differently at the two companies.

Kooddoo Fisheries and Felivaru Fisheries were brought under the management of MIFCO in September this year after having been separated into independent entities during former President Mohamed Nasheed’s administration.

“The staff allowances were not the same in the three companies,” said Rasheed. “While attendance allowance is provided not for staff in one company, the other provides attendance allowance, thus bringing about the need to synchronise the allowances.”

Meanwhile, the ACC and the Maldives Police Service have launched an investigation into a missing US$1 million after a company from Thailand transferred the money into an account that did not belong to MIFCO.

ACC president Hassan Luthfee told Minivan News that the commission initiated the investigation last week. Local media reported that the commission had started the investigation after rumours began circulating in the press and social media.

Speaking about the transaction, MIFCO CEO Adhlee Ismail alleged the Thai company was tricked into sending the sum to the wrong account after a group of people impersonating MIFCO contacted them via email.

“What really happened was, the buyer sent the money to a wrong account after a group of hackers impersonated MIFCO by creating an email with an extra letter to the MIFCO email. The buyer did not do the necessary background checks before transferring the money,” local media reported Adhlee as saying.

Adhlee denied MIFCO staff involvement in the fraudulent transaction while alleging that the emails were sent to Thailand from Nigeria.

According to Raajje.mv, MIFCO submitted the case to Maldives Police Service on Thursday and the company has since received US$600,000 of the missing money.

Related to this story

Kooddoo, Felivaru merged with MIFCO

MIFCO yellow fin tuna receives Friends of the Sea eco-label


2 thoughts on “MIFCO denies reducing staff allowances, ACC investigates fraudulent US$1 million transaction”

  1. .. another MIFCO scandal.
    And more should be expected

    Same company of 30 years. Same culture. Same people.

  2. hackers? hahahaha! Please tell us who the receiving account belongs to! These guys lie like normal people breathe.


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