July 17, 2009 (LBO) – The Financial Intelligence Unit (FIU) of Sri Lanka’s Central Bank has signed Memoranda of Understanding (MOU) with FIUs of the Philippines and Nepal, a bank statement said. FIUs have been established in more than 130 countries as dedicated institutions to fight against money laundering, terrorist financing and other unlawful activities.
The FIU of Sri Lanka’s Central Bank has already entered into MOUs with Malaysia, Afghanistan, South Korea and Indonesia. 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 MOUs were signed in Brisbane, Australia earlier this month during the Annual Meeting of the Asia Pacific Group on Money Laundering.
The Central Bank said it also plans to sign similar MOUs with other FIUs in the region including India, Bangladesh and Japan.
“Money launderers and terrorist financiers are most often internationally connected and operate across borders,” the statement said.
“Financial intelligence and authorities also need to be internationally organized to fight these activities.