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The Department of Exchange control has imposed heavy penalties on violators of exchange control regulations. The Department of Exchange control has imposed heavy penalties on violators of exchange control regulations. The persons are believed to have helped send dollar abroad for third parties to participate in the controversial Gold Quest network marketing scheme.

The highest fine at the rate of 150 percent of the transaction amounted to Rs. 47 million.

Fines for the first 7 persons totaled Rs. 80 million.

Central Bank is continuing to investigate 920 other credit card cases.

-LBR Newsdesk: LBOEmail@vanguardlanka.com