Sri Lanka President leads discussion on combating money laundering and terrorism financing

A high-level discussion on critical preparations for Sri Lanka’s upcoming Mutual Evaluation (ME) by the Asia/Pacific Group on Money Laundering (APG) was held yesterday (December 23) at the Presidential Secretariat in Colombo, under the patronage of Sri Lankan President Anura Kumara Dissanayake.

The meeting focused on combating money laundering and countering the financing of terrorism (AML/CFT). Participants included cabinet ministers, ministry secretaries, and officials from the Central Bank of Sri Lanka and the Financial Intelligence Unit (FIU).

The FIU highlighted the urgent need to implement cabinet-approved action plans involving 24 key institutions, including regulatory bodies and law enforcement agencies. These plans prioritize legal reforms, capacity building, enhanced inter-agency cooperation, and the maintenance of comprehensive records to effectively meet the recommendations of the Financial Action Task Force (FATF).

President Dissanayake directed the establishment of dedicated teams to ensure compliance and closely monitor progress. He emphasized the importance of collaboration and accountability in strengthening Sri Lanka’s AML/CFT framework.

He also underscored the need for a robust and effective system to secure favorable evaluation outcomes, maintain financial stability, and bolster international confidence in the country’s economy.

Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma and Secretary to the President Dr. Nandika Sanath Kumanayake were also in attendance.