Sri Lanka signs MOU to probe money laundering via NGOs
The Financial Intelligence Unit (FIU) of Sri Lanka has entered into a Memorandum of Understanding (MOU) with the National Secretariat for Non-Governmental Organizations to exchange information on investigations and prosecutions of Money Laundering (ML), Terrorist Financing (TF) and related crimes and of any persons connected.
According to the Central Bank of Sri Lanka (CBSL), the FIU signed the MOU, per the provisions of the Financial Transactions Reporting Act, No. 6 of 2006.
Mr. Sanjeewa Wimalagunarathna, Director General and the Registrar of the National Secretariat for Non-Governmental Organizations, and Dr. Subhani Keerthiratne, Director of the FIU signed the MOU on behalf of the respective institutions at the Central Bank on Monday.
The MOU was signed in the presence of Dr. P Nandalal Weerasinghe, the Governor of the CBSL, in the capacity as the Chairman of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) National Coordinating Committee. Mrs. K M A N Daulagala, Senior Deputy Governor of the CBSL and Mrs. E H Mohotty, Assistant Governor of the CBSL also graced the event.
Non-Governmental Organizations (NGOs) could be misused for ML/TF and related crimes and thereby could threaten the stability of the national and global economic and financial systems. The National Secretariat for Non-Governmental Organizations is responsible for registering NGOs, monitoring their activities, providing facilities, and taking action against any misconduct etc. This MOU will facilitate the National Secretariat for Non-Governmental Organizations to exchange information with the FIU relating to any incident, investigation or prosecution stemming from the activities carried out by the National Secretariat or on any person connected to such activity, which will be an important aspect in prevention, detection and prosecution of ML/TF and related crimes.
With the signing of this MOU, the FIU has entered into 16 MOUs with domestic government agencies, including Sri Lanka Customs, Sri Lanka Police, Department of Immigration and Emigration, Inland Revenue Department, Department for Registration of Persons, Excise Department of Sri Lanka, Commission to Investigate Allegations of Bribery or Corruption, Registrar General’s Department etc., to share information to strengthen the AML/CFT framework of the country. The FIU has entered into 45 MOUs with foreign counterparts as well.
2024-11-07
