Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) under the aegis of the Central Bank has fined seven entities a total of Rs.9.5 million for irregular transactions under the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA).
The banking regulator said in a media release that in terms of the FTRA, the penalty may be prescribed by taking into consideration the nature and gravity of relevant non-compliances of the institutions.
The penalties were imposed between July to September 2025 and the money credited to the Consolidated Fund. Accordingly LOLC Finance was fined Rs. 2 million, Bullion Exchange Rs. 2 million, Mobitel (Pvt) Ltd Rs. 2 million, National Development Bank PLC Rs. 1 million, Fintrex Finance PLC Rs. 1 million, Pan Asia Banking Corporation PLC Rs. 1 million and Rank Entertainment (Pvt) Ltd (Casino Marina) Rs. 500,000.
Leave Comments