Global terror finance watchdog delays Sri Lanka exam after Islamist attacks

ECONOMYNEXT- The Financial Action Task Force, the global policy setter on anti-money laundering and anti-terrorism financing, has delayed its on-site assessment on Sri Lanka till September due to the Easter Sunday attack, a central bank official said.

"The FATF has delayed its on-site review of the effectiveness of our reforms until September," Deputy Governor H. A. Karunaratne said.

"They were supposed to visit in May, but delayed due to security concerns," he said.

Sri Lanka was placed in the grey list of the FATF in October 2017 due to deficiencies in its anti-money laundering and anti-terrorism financing efforts.

Sri Lanka had not made progress in international cooperation, supervision, legal persons and arrangements, and following sanctions on North Korea and Iran.

However, during the FATF meeting in February 2019, it determined that Sri Lanka has completed a set action plan to correct the deficiencies, and warranted an on-site assessment. (Colombo/Jun03/2019)

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