Govt. to bring fresh laws to curb money laundering (opens original article in a new tab)

The Sri Lankan government plans to introduce new laws to strengthen measures against money laundering, following reports of significant fraudulent transactions involving millions of dollars.

• Government plans to introduce new laws to curb money laundering following fraudulent transactions
• Public Security Minister cited $85 million in transfers under import payments and $85.7 million in losses from two investigations
• Amendments aim to address loopholes in the Foreign Exchange Act by reinstating provisions from the Money Laundering Act