Feb 19, 2008 (LBO) – Sri Lanka’s central bank says it has strengthened an anti-money laundering and warns the public against engaging in illegal transactions. “The Central Bank warns the public to be aware of the dangers of getting involved in unlawful financial transactions that are detrimental to public or national interest and the country’s security situation at large,” the bank said in a statement.
The Financial Intelligence Unit (FIU) tasked with countering money laundering and terrorist finance was started on a recommendation of a financial actions task force of 34 countries.
The FIU, was established in the Central Bank under the Financial Transactions Reporting Act, No. 6 of 2006 in March 2006.
It collects information and investigates suspicious transactions and provides information for police to act to stop the banking system from being used for unlawful activities.
“Since the FIU was established as a department of the Central Bank, it has been able to draw on the expertise of the human resources available in the bank,” the central bank said.
“Currently the unit is managed by experienced officers who possess multiple qualif