Severe threats are posed to the Sri Lankan economy and the global financial system due to financial crimes such as money laundering, terrorist financing, and the financing of weapons of mass destruction.
Financial transactions have become more complex with rapid technological advancements, and it has become a challenging task to identify and block the methods used by criminals to launder the proceeds of these crimes.
Accordingly, the Financial Intelligence Unit of the Central Bank of Sri Lanka has conducted the third National Risk Assessment of Sri Lanka on financial crimes during the period 2024/25 in accordance with the standards set by the Financial Action Task Force, an intergovernmental policy-making body dealing with financial crimes.
In order to manage the risks identified in the assessment of the aforementioned national risk, “Sri Lanka’s National Policy on Preventing Money Laundering, Countering the Financing of Terrorism, and Combating the Financing of the Proliferation
of Weapons of Mass Destruction for 2026-2030” has been formulated.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning, and Economic Development to implement the aforementioned national policy during the period 2026-2030.
from The Island https://ift.tt/IyHrYCE
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