The Anti-Corruption Commission (ACC) has issued a stern indictment of government institutions and state-owned enterprises (SOEs) for not taking sufficient steps to recover funds lost to misappropriation and corruption.

The ACC, in a statement, revealed that it had wrapped up investigations of numerous cases in the previous year and ordered relevant agencies and SOEs to recover MVR 50.3 million. The anti-corruption watchdog, however, voiced its frustration over the sluggish pace of recovery, stating, “Those funds we ordered to be recovered last year have yet to be recovered.”

The ACC, under a dedicated mechanism established in 2022, periodically reviews the progress and efforts of government agencies and SOEs in retrieving lost funds, with its most recent review finding their efforts unsatisfactory. In its statement, the ACC cautioned that there would be legal consequences for those who fail to recover the funds.

The anti-corruption watchdog has directed the recovery of over MVR 50.3 million in funds syphoned off through various corrupt practices. This includes MVR 40.4 million linked to mass corruption and embezzlement involving the Maldives Marketing and Public Relations Corporation (MMPRC), MVR 8.4 million associated with the Maldives Transport and Contracting Company (MTCC), and around MVR 1.3 million lost through the utility provider, FENAKA Corporation.