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.
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The Cabinet has approved a proposal for Sri Lankans overseas to apply for their passports through an online system via the Lankan diplomatic missions.
Ajith Gallage, the owner of a Bird Park in Nagarawawa, Hambantota, has been remanded over allegations of concealing illegally imported motorcycles, in a warehouse owned by him.
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