https://www.dailynews.lk/2025/01/15/admin-catagories/breaking-news/704898/cbsl-to-further-tighten-laws-against-money-laundering-terrorism-financing/

The Central Bank is planning to further expand its efforts on Anti-Money Laundering and Countering the Financing of Terrorism.

It has been decided to expand the role further so that information regarding tax evasion, tax-related crimes and suspicious transactions can be reported to the Financial Intelligence Unit of the Central Bank of Sri Lanka for immediate investigation.

Central Bank Governor Dr.Nandalal Weerasinghe stated that the CB will ensure more legal space in the future to tax related institutions including the Customs Department, Inland Revenue Department and Excise Department to quickly provide relevant information to the Financial Intelligence Unit.

Already, the Financial Intelligence Unit of the Central Bank of Sri Lanka has entered into agreements with a number of Government agencies to enable access to national level information.

Accordingly, the Financial Intelligence Unit has been given the opportunity to further investigate the suspected transactions and activities related to money laundering and financing of terrorism.

The Governor also mentioned that the drafting of amendments for three main legal acts in order to strengthen the related legal framework of the country in accordance with the international standards is currently in the final stage.

The Central Bank Governor said combating money laundering and countering financing of terrorism will help improve the credibility of the financial system, increase FDI’s, increase access to international financial markets and will promote good governance practices and also will help strengthen national security.