- Last Update 2025-03-12 13:22:00
Two foreign banks and a local jeweller penalised by the Central Bank
Two foreign banks and a local jeweller have been imposed fines/penalties by the Central Bank for failure to adhere to rules and regulations of Sri Lanka’s the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA).
The banking regulator said in a media release that the penalty may be prescribed taking into consideration the nature and gravity of relevant non-compliance of the institutions. Accordingly, as Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the FIU (Financial Intelligence Unit) collected penalties totalling Rs.2.75 million from these three organisations in total from May to October 2024.
A penalty of Rs.1 million was imposed on Pakistan’s MCB Bank on July 26 for failure to report some Electronic Fund Transfer (EFT) transactions related to trade finance. A sum on Rs.1 million was imposed on the Bank of China for failure to report some Electronic Fund Transfer (EFT) transactions while a penalty of Rs.750,000 was imposed on Vogue Jewellers (Pvt) Ltd in October for failure to obtain identification documents of customers who conducted cash transactions in Sri Lankan Rupees.
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- March 11, 2025 - 751 - 0
Rapist of lady doctor at Anuradhapura identified as army deserter, parliament told
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SL rejects UNHRC resolutions including external evidence gathering mechanism
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Internationally funded projects only on Govt-to-Govt basis in future
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- March 11, 2025 - 222 - 0
Dutch authorities investigate companies suspected of paying bribes for Sri Lanka hospital projects
The Dutch Public Prosecutor suspects two companies of paying bribes in the construction of hospitals in Sri Lanka, according to an investigation by FD, the Dutch financial newspaper.
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