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CIABOC to probe money laundering
View(s):The Bribery Commission will soon be able to probe incidents of money laundering that come to light during investigations into complaints of bribery or corruption, a senior official said. Accordingly, the Government’s attention has been directed to amend the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) Act incorporating these changes and to allow the Commission to probe offences related to money laundering. The need to update the Act which has not been amended in 23 years, had been raised recently, as it was noted that, though Sri Lanka signed the United Nations Convention Against Corruption in 2004, no action has been taken to incorporate those regulations into the country’s legal system.
Though the Prevention of Money Laundering Act was introduced in 2006, no attention had been paid to the Bribery Act or the CIABOC Act of 1994. Even after the Act was introduced in 2006, there has not been a single amendment up to now. As a result, the Bribery Commission has conveyed to the Government that it is currently powerless to file money laundering charges against individuals, even if it uncovers evidence against them, while probing complaints on bribery or corruption. This has resulted in the Commission’s entire investigation process coming to a complete halt, according to officials.
The Commission has further proposed that the Government bring in amendments to prevent those found guilty of money laundering offences from being recruited to the state service, and to strip them of their voting rights. This Law currently applies to those found guilty of Bribery.