CBSL penalizes 2 finance companies including Janashakthi subsidiary
The Central Bank of Sri Lanka (CBSL) has said two finance companies have been penalized for lax customer due diligence by the Financial Intelligence Unit.
The CBSL said the regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), FIU collected penalties amounting to 1.5 million rupees in total for the period from 1 October 2021 to 31 December 2021.
Orient Finance, a subsidiary of Janashakthi Insurance, has been fined one million rupees.
Another Financial institute named Lanka Credit and Business Finance had been charged with five hundred thousand.