Financial Intelligence

August 02, 2012 (LBO) – The Financial Intelligence Unit (FIU) of Sri Lanka’s Central Bank has signed a Memoranda of Understanding (MOU) with FIUs of Mongolia, Russia, Saudi Arabia, and the United States, the bank releasing a statement said. Under the MOU the countries will share financial information to facilitate the investigation and prosecution of people suspected of money laundering and terrorist financing, it said.

The central bank said money launderers and terrorist financiers are most often internationally connected and operate across borders and authorities need to be internationally organized to fight these activities.

“Greater coordination among financial intelligence authorities is needed to deal with these activities on a global basis,” the statement said.

With the latest deals signed, the total number of MOUs entered into by Sri Lanka’s FIU has risen to twenty.

Sri Lanka has other MOUs with Australia, Belgium, Bangladesh, Canada, India, Malaysia, South Korea, Indonesia, Philippines, Afghanistan, Nepal, Cambodia, Fiji, Slovenia, South Africa and Solomon Islands.