Sri Lanka intensifies fight against money laundering terrorist financing

Business

Sri Lanka has intensified its fight against money laundering and terrorist with the Financing Intelligence Unit of Sri Lanka entering into a Memorandum of Understanding with the Department of Motor Traffic (DMT).

The aim is to receive intelligence information related to investigations and prosecutions of money laundering, terrorist financing and other related crimes, according to a Central Bank media release.

The MOU was signed by A.H.K. Jagath Chandrasiri, Commissioner General of the DMT and D.M. Rupasinghe, Director, FIU (part of the Central Bank) in the presence of Central Bank Governor Dr. Indrajit Coomaraswamy.

The MOU with the DMT would enable FIU to gather intelligence and information which is vital for prevention, detection and prosecution of such offences.

The FIU has already entered into MOUs with 37 foreign counterparts as well as seven local government agencies such as Sri Lanka Customs, Department of Immigration and Emigration, Inland Revenue Department, Department for Registration of Persons, Sri Lanka Police, Securities and Exchange Commission of Sri Lanka and Insurance Regulatory Commission of Sri Lanka in order to share information to strengthen the AML/CFT framework of the country. (BS)

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