25-year-old arrested over US$25 Million transfer fraud in Sri Lanka

(Photo: AI generated)

A 25-year-old man has been arrested by the Financial Crimes Investigation Division (FCID) for allegedly transferring US$25 million to foreign bank accounts through fictitious companies without importing any goods into Sri Lanka.

The suspect is a resident of Wellampitiya.

According to investigations, the suspect transferred the money overseas through commercial banks using the Telegraphic Transfer (TT) system.

He is alleged to have carried out the financial fraud by using the names of six companies in Sri Lanka to place fake orders for goods from foreign companies.

The transactions took place between January 2024 and July 2025.

Investigations have revealed that no goods were imported into Sri Lanka in connection with these transactions.

The suspect is due to be produced before the Colombo Chief Magistrate’s Court.