ECONOMYNEXT – Fund managers, lawyers, accountants, trustees and casinos are among a host of non-finance businesses required to report any suspicious transactions, the Financial Intelligence Unit of the Central Bank of Sri Lanka said.
A statement said the Minister of Finance has issued Extraordinary Gazette Notifi¬cation No. 2015/56 dated April 21, 2017 prescribing the suspicious transactions reporting requirement under the Financial Transactions Reporting Act No. 6 of 2006 (FTRA).
A range of Designated Non-¬Finance Businesses, called DNFBs, are obliged to report any transaction where there is reasonable ground to suspect that the transaction may be related to commission of any unlawful activity or criminal offence as defi¬ned in Section 33 of the FTRA, it said.
These include individual and collective portfolio management, investing, administering or managing funds or money on behalf of other persons, safekeeping and administration of cash or liquid securities on behalf of others, safe custody services, trustee administration or investment management and pension schemes.
Also included are casinos and lotteries, real estate agents, gem dealers, lawyers, notaries, other independent legal professionals and accountants, trust or company service providers and off shore units.
(COLOMBO, June 29, 2017)