Wednesday June 20, 2018

Sri Lanka fixing gaps in money laundering framework: Fin Min

Jul 17, 2017 11:29 AM GMT+0530 | 1 Comment(s)

ECONOMYNEXT - Sri Lanka is fully committed to eradicating financial crimes, and is in the process of fixing gaps identified in its anti-money laundering and terrorist financing framework, Finance Minister Mangala Samaraweera said.

Sri Lanka's cabinet of ministers had approved a national policy overseen by the cabinet and from President Maithripala Sirisena downward to dedicated bureaucrats there was strong commitment to eradicate financial crimes, he told a meeting of Asia Pacific Group on money laundering in Colombo on Monday

"We have emerged from a period where corruption was rife," Samaraweera said.

He said as the finance minister who was responsible for the country's Financial Intelligence Unit was committed to improving anti-money laundering and combating financing of terrorism (AML/CFT) framework.

Anti-money laundering activities are driven by a global body, Financial Action Task Force (FATF). It had begun a review of countries on their implementation.

Many countries were given technical assistance to fill the gaps, officials said. (Colombo/July/2017)



  1. sacre blieu July 18, 06:55 AM

    The stock market has been one of the best places to launder illicit wealth and the authorities are well aware of it. Recently, in a week end paper, there was an announcement that strictures were brought against four brokers in a bid to build confidence. This is a joke as there has been, and very visible, the massacre of investors during the fiasco so glaring that a stronger action is wanting. This is clearly a publicity stunt favouring these criminals , and there should have been more in the net.

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