Bank of Maldives (BML) declared on Sunday that there did not appear to have been any breach of card details at the bank.
The main bank of Maldives released the statement in response to recent speculations on social media.
Warning that merchants and e-commerce merchants could be compromised and card details thereby revealed on the dark web, BML disclosed that they were notified of a "potential breach of data" from a large merchant by one of the bank's card partners last Thursday.
As the potential breach might have affected c 350 BML issued cards, the bank assured that these cards have been deactivated and that BML was presently working to issue replacements for customers.
"We can confirm that in cases where a merchant is compromised, our customers are fully protected and will not face any financial loss", said BML.
The bank further stated that they would investigate concerns of any data compromise in collaboration with its card associations.