The Central Bank of Sri Lanka’s Financial Intelligence Unit (FIU) has signed Memorandums of Understanding (MOUs) with 16 local institutions and 45 international entities to enhance efforts in preventing money laundering and terrorist financing.
These agreements aim to facilitate the exchange of critical information related to financial crimes.
Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka and Chair of the National Coordination Committee on Money Laundering and Terrorist Financing, stated that the MOUs will support investigations and legal proceedings related to financial transactions, money laundering, terrorism financing, and associated crimes. The FIU has established these agreements as per the provisions of the Financial Transactions Reporting Act No. 6 of 2006.
Highlighting the potential misuse of non-governmental organizations for illicit activities, Dr. Weerasinghe warned that such activities could threaten the stability of national and global economic and financial systems.
He emphasized the importance of inter-agency cooperation in detecting, investigating, and prosecuting crimes related to money laundering and terrorist financing.
Under this initiative, the FIU has partnered with 16 key state institutions, including Sri Lanka Customs, Sri Lanka Police, the Immigration and Emigration Department, the Department of Inland Revenue and the Commission to Investigate Allegations of Bribery or Corruption. Additionally, the FIU has formalised agreements with 45 international counterparts to strengthen the framework for information sharing and co-operation.These collaborative agreements are expected to reinforce Sri Lanka’s framework for preventing and controlling financial crimes and terrorism financing.