Financial Intelligence Unit entered into MOU with Department of Motor Traffic

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In terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), the Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Department of Motor Traffic (DMT) on November 01, 2018 at the Central Bank of Sri Lanka to receive intelligence information related to investigations and prosecutions of money laundering, terrorist financing and other related crimes.

Mr. A H K Jagath Chandrasiri, Commissioner General of the DMT and Mr. D M Rupasinghe, Director, FIU signed the MOU on behalf of the respective institutions in the presence of Dr. Indrajit Coomaraswamy, the Governor of the Central Bank of Sri Lanka, who is also the Chairman of the Anti-Money Laundering/Countering the Financing of
Terrorism (AML/CFT) National Coordinating Committee.

Money laundering and terrorist financing are internationally connected financial crimes which could threaten the stability of domestic as well as global economic and financial systems. The MOU with the DMT would enable FIU to gather intelligence and information which is vital for prevention, detection and prosecution of such offences.

The FIU has already entered into MOUs with 37 foreign counterparts as well as 7 domestic government agencies such as Sri Lanka Customs, Department of Immigration and Emigration, Inland Revenue Department, Department for Registration of Persons, Sri Lanka Police, Securities and Exchange Commission of Sri Lanka and Insurance Regulatory Commission of Sri Lanka in order to share information to strengthen the AML/CFT framework of the country.

(Media Release)