Sri Lanka’s FIU, Motor Traffic dept to share money laundering intelligence
Nov 13, 2018 16:50 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka’s Financial Intelligence Unit (FIU) said it has signed an agreement with the Department of Motor Traffic, which registers vehicle ownership and dealers, to share information as part of efforts to fight money laundering.
A statement said the deal enables the FIU, under the central bank, “to receive intelligence information related to investigations and prosecutions of money laundering, terrorist financing and other related crimes.”
Indrajit Coomaraswamy, Governor of the Central Bank, is the Chairman of the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) National Coordinating Committee.
“Money laundering and terrorist financing are internationally connected financial crimes which could threaten the stability of domestic as well as global economic and financial systems,” the statement said.
“The MOU with the DMT would enable FIU to gather intelligence and information which is vital for prevention, detection and prosecution of such offences.”
The FIU said it has already entered into MOUs with 37 foreign counterparts as well as 7 domestic government agencies to share information to strengthen the AML/CFT framework of the country.
These are Sri Lanka Customs, Department of Immigration and Emigration, Inland Revenue Department, Department for Registration of Persons, Sri Lanka Police, Securities and Exchange Commission of Sri Lanka and Insurance Regulatory Commission of Sri Lanka.