Sri Lanka financial intelligence unit in deal with US and Russia

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.

READER COMMENT(S)

15. EX PAT Aug 07

Http://www.dailymail.co.uk/news/article-2184657/British-banks-links-global-terror-US-accuses-Standard-Chartered-laundering-billions-Iran-Hezbollah.html

14. sltk2004 Aug 07

I don't consider myself an expert on international banking. Nor do I encourage or approve money laundering and terrorist financing. But why should we get all fired up over activities of HSBC or SCB, while we (I mean the CB) simply ignore the fairly obvious activities of local banks within SL. True - they may not be about money laundering or financing terrorist. But still they are things that affect the economy of the country. Say there are some huge wildfires going on in USA or Spain. We also have some fires in Pattipola or Ella. Which one should we be trying to put out?

13. EX PAT Aug 07

@ kosala: "any international financial that abates criminal enterprises must be held accountable and scrutinized any where they operate ..CB should investigate but they WONT"

People in glass houses cannot afford to throw stones !!!

I will tell u a simple personal example/experience.

Whilst holidaying in Dubai with some SL expat frnds, we visited a night spot that has a Sri Lankan band.

A couple of chinese ladies approached us and asked if we are from SL.

We said yes and asked them how they knew where we are from ?

Surprise, surprise, the ladies said they came to Dubai just 3 months before, after one year stay in ... guess where? said they recognized the language ... :)

In fact they told us exactly where they lived - down D'Road, ... lane. And where did they work - try guessing .... LOL A lot more was said after a few drinks but irrelevent to this comment.

The point of the story is, international criminal activities are beyond ur wildest dreams (and mine), with far reaching complications and connections. Its like the proverbial ball of thread the cat played with.

If CBSL is to start looking into money laundering and criminal activities, who do u think will be the first people looked at ???

He who shall not be named will lead the list!!!

12. ExPaT Aug 07

@ pimpomal:
LOL mate r u with the FIU ???? Just this morning USA has accused StanC of deliberately falsifying details of transactions with IRAN !!!

However unlike HSBC, StanC have denied the accusation but the market does not believe them; share price down 7%.

Me wondering how u came up with that comment here before the US press release?? Inside dealing LOL :)

11. kosala Aug 06

@slt2004

HSBC has been found guilty and been fined for the said fines. Admission of guilt is NOT required and they cann't be sued for civil or criminal liabilities . thousands of people die and suffer related to drug cartel violence but hey that's ok.. . that's the privilege they have because of people like u.. any international financial that abates criminal enterprises must be held accountable and scrutinized any where they operate ..CB should investigate but they WONT

10. pimpomal Aug 06

I think biggest money launderer is standard chartered. u hardly standard chartered banks in the UK, but their main operations are in most corrupt countries of the world. lolz

9. sltk2004 Aug 06

I was referring to the role of HSBC within Sri Lanka. Has it been found guilty of any such offense here? Shouldn't the CB worry more about our own banks - practices/incidents like BoC and Peoples Bank continuously pumping money to failing local corporations, recent attempted share purchase by NSB etc.

8. jamXboree Aug 05

@sltk2004 - Clearly you do not follow the news. Why dont you Google HSBC and money laundering before you post a naive comment like that?

7. sltk2004 Aug 03

@Lasantha: What has HSBC done to us to deserve such a treatment ?

6. Somapala Aug 03

@ Niro. Fat chance. Swiss are just too smart. But they can sell you 'Red Cross' and Human Rights.

5. Lasantha Aug 03

Will this allow Our authorities to obtain information regarding HSBC's laundering of drug money in Mexico and USA, so we can freeze assets of HSBC and close the branches in Sri Lanka.

4. Nilan Aug 03

I think before going internationally we should take precautions locally on the black money, especially from the big shots

3. shameer Aug 02

What about singapore... where many sympathizers live....

2. Niro Aug 02

SL must have a FIU-MOU with Switzerland. That's where most of our black money is stashed.

What's the point of having a FIU with Mongolia?

1. Somapala Aug 02

So how do you expect to get all those reported FDI's into the country.