Featured Sri Lanka

EU Parliament adds three jurisdictions to money laundering blacklist

European Union lawmakers on Wednesday voted in favour of including Tunisia onto the bloc’s list of third countries considered at high risk of money laundering and terrorism financing. Sri Lanka and Trinidad and Tobago were also added to the blacklist. After Wednesday’s decision, Parliament may meet to discuss the EU… Read More

Sri Lanka to share info on money laundering with China, Bhutan

Sri Lanka will share financial information with China and Bhutan facilitating investigation and prosecution of persons suspected of being involved in money laundering and terrorist financing under a new arrangement. Sri Lanka’s Central Bank signed two MOUs with the China AML Monitoring and Analysis Centre and Financial Intelligence Unit of… Read More

Macau: Money laundering group makes positive assessment

Macau received a positive assessment in the Asia Pacific Group on Money Laundering (APG) Mutual Evaluation Report (MER) 2017. The report was discussed yesterday in the annual meeting of APG, which is being held in Colombo, Sri Lanka. Macau’s positive results were received in respect of its technical compliance with… Read More
19th July 2017
While Sri Lanka has made considerable progress in thwarting money laundering and terrorist financing over the past two years, more needs to be done to improve the situation, Finance and Mass Media Minister Mangala Samaraweera said yesterday.“ In fact, I have been informed that we are not yet completely out… Read More
17th July 2017
Sri Lanka is fully committed to eradicating financial crimes and is in the process of fixing gaps identified in its anti-money laundering and terrorist financing framework, Finance Minister Mangala Samaraweera said. Sri Lanka’s cabinet of ministers had approved a national policy overseen by the cabinet and from President Maithripala Sirisena… Read More
24th May 2017
One in five banks in the Asia Pacific expects tax evasion in 2017 to increase 100 to 500 per cent over last year’s levels according to a recent poll by data analytics firm Fico. A further one in five senior fraud managers surveyed said they expect the increase to be… Read More
24th November 2016
The Sri Lankan government is planning to set up a fully-powered UK style fraud office to fight corruption. Read More
18th October 2016
The head of Sri Lanka’s anti-corruption body resigned on Monday, government officials said, days after President Maithripala Sirisena implied her agency was favoring the rival party of his prime minister. Dilrukshi Wickramasinghe has headed probes into alleged corruption involving top officials in the former government of ex-president Mahinda Rajapaksa, including… Read More
1st September 2016
One of Sri Lanka's most controversial politicians has been charged with corruption involving the illegal transfer of state-owned weapons. Read More
24th August 2016
Two Australian companies are being investigated over alleged bribery scandals linked to the presidents of Sri Lanka and the Congo, after the firms sought to secure multi-million dollar contracts in those countries. A Fairfax Media and 7.30 investigation can reveal Perth’s Sundance Resources is implicated in an alleged bribery plot… Read More
17th August 2016
Nithya Senani Samaranayake who has functioned as a director of two companies owned by Hambantota district MP Namal Rajapaksa, was yesterday ordered to be remanded until August 22 by a Colombo Court for her alleged involvement in money laundering amounting to Rs.45 million. On Monday, MP Namal Rajapaksa and Sudarsha… Read More
15th August 2016
Sri Lankan financial crime police arrested the eldest son of former president Mahinda Rajapaksa on Monday on suspicion of laundering money, his lawyer said, the latest legal difficulty for the once-powerful family. Sri Lanka’s new president, Maithripala Sirisena, faces pressure to act on allegations of corruption dating back to the… Read More
18th July 2016
Sri Lankan financial crime police arrested on Monday a brother of former President Mahinda Rajapaksa for a third time over suspicion of state fund misappropriation when he was economic development minister, a lawyer said. Rajapaksa’s younger brother, Basil, is on bail after being arrested twice for alleged misappropriation of state funds… Read More