Financial Times

Steps against money laundering
Two far reaching Bills on the Prevention of Money Laundering (PML) and Financial Transactions Reporting (FTR) that were passed in Sri Lanka's Parliament in January were certified by the Speaker last week, official sources said.

The Prevention of Money Laundering Act No. 5 of 2006 and the Financial Transactions Reporting Act No. 6 of 2006 will now make Sri Lanka fully compliant with the special recommendations adopted by the Financial Action Task Force (FATF) on anti money laundering and countering terrorist financing. Prior to this in July 2005 the Convention on the Suppression of Terrorist Financing Act No 25 of 2005 was enacted in Parliament, the sources said.

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