FCID uncovers Rs. 24.85 Billion in alleged fraudulent dollar transfers
(Photo: AI generated)
The Financial Crimes Investigation Division (FCID) has uncovered alleged fraudulent transfers of US dollar reserves worth Rs. 24.85 billion by five Sri Lankan companies, with one suspect arrested in Wellampitiya.
The investigation was launched on the instructions of the Inspector General of Police following a complaint received by Police Headquarters.
According to the complaint, 89 companies registered in Sri Lanka had transferred US dollar reserves out of the country through electronic outward remittances by claiming that the funds were being used to import goods.
However, the relevant goods had allegedly not been imported into Sri Lanka.
During the investigation on September 22, 2026, information was uncovered indicating that five of the 89 companies had fraudulently transferred US dollar reserves worth Rs. 24.85 billion out of the country.
A person suspected of aiding and abetting the transfers was subsequently arrested in the Wellampitiya area.
The suspect is a 35-year-old resident of Wella Veediya, Colombo 12.
The FCID is conducting further investigations under the Prevention of Money Laundering Act.