European Commission de-lists SL from High Risk Third countries with Anti-Money Laundering

12 May 2020 11:59 am - 8     - {{hitsCtrl.values.hits}}

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The European Commission has de-listed Sri Lanka from its list of High Risk Third Countries with Anti-Money Laundering and Countering the Financing of Terrorism Strategic Deficiencies published on May 7, the Central Bank said today.

Sri Lanka was listed as a high risk third country by the EU in February 2018, subsequent to Sri Lanka being identified by the Financial Action Task Force (FATF) as a jurisdiction with strategic AML/CFT deficiencies in its Compliance Document which is more commonly identified as “the Grey List” in October 2017. Upon listing, a time bound Action Plan to address the strategic deficiencies identified was assigned to Sri Lanka.

Since the listing by the FATF, the Financial Intelligence Unit (FIU) together with other stakeholders had taken a series of effective and tangible steps to implement the FATF Action Plan well within the given time frame and accordingly, the FATF delisted Sri Lanka from its Compliance Document (a.k.a. “the Grey List”) at its Plenary held during 13-18 October 2019 in Paris.

The revised list of EU high risk third countries together with an Action Plan for comprehensive Policy on preventing money laundering and terrorist financing will be forwarded to the EU Council and Parliament for adoption, the Central Bank said.

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  Comments - 8

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  • Sokrates Tuesday, 12 May 2020 12:08 PM

    And now all criminals can bring their money to Sri Lanka without any questions.

    Karunaratne Tuesday, 12 May 2020 12:19 PM

    Only on paper we got liberation from the European, who plundered our wealth, killed thousands, and converted many to their Christian religion. Post independence, they have arbitrary lists to continue to control us from far. And we should not act like fools and jump up and down because they have de-listed our country from bad to okay.

    Dee Tuesday, 12 May 2020 12:38 PM

    Hope it won't list is back again. With the kind of requests our top people make.

    Max Tuesday, 12 May 2020 12:47 PM

    Well done lets stand together

    Tariq Thowfeek Tuesday, 12 May 2020 12:48 PM

    It's a positive move. So the Central Bank should look at opening up PayPal "Send"

    Sriyani Tuesday, 12 May 2020 01:24 PM

    Well done! Keep up the good work.

    Ajja Tuesday, 12 May 2020 02:14 PM

    Good News and a relief to Srilankans from thieve status.Surely we cant live like thieves and cheats forever.

    S. Ratnam Tuesday, 12 May 2020 02:21 PM

    Does the European Commission know that the government recently authorized anyone to bring foreign currency into the country and deposit it without any questions asked as to its origin? They are also paying higher interest rates for any of the mysterious transactions. Are we to assume that no Black Money will be involved? Dream on!


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