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SL remains vulnerable to money laundering, terrorist financing: US

2018-09-21 08:31:20
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Sri Lanka remained vulnerable to money laundering and terrorist financing although it is neither an important regional financial centre nor a preferred centre for money laundering, the annual Country Reports on Terrorism released by the US said.

According to the report which was released by the US State Department on Wednesday, Sri Lanka belongs to the Asia Pacific Group on Money Laundering, a Financial Action Task Force (FATF)-style regional body.

The FATF has added Sri Lanka to its Public Statement entitled “Improving Global AML/CFT Compliance: On-going process,” also known as the “grey list.”

“Sri Lanka agreed to an action plan to address several vulnerabilities, including improving mutual legal assistance, issuing customer due diligence rules for designated non-financial businesses and persons, and enhancing risk-based supervision,” the report said.

Referring to action taken by Sri Lanka to countering violent extremism, the report said the country was implementing educational outreach programmes at a provincial level to address issues of religious tolerance and non-violent conflict resolution.

“These programmes focus on post-conflict areas of Jaffna, Mannar, Kilinochchi, Mullaitivu, and Vavuniya where the local populations are considered vulnerable to re-radicalization,” it said.

The country report commented on the use of the Prevention of Terrorism Act (PTA) and the proposed new Counter-terrorism Act as well.

According to international and domestic legal experts, it said significant flaws remained with the proposed draft Act. Meanwhile, it said Counter-terrorism cooperation and training is a growing part of the US-Sri Lanka relationship.

“For example, two Sri Lankan naval officers attended an anti-terrorism training in Florida in November and December. Additionally, the Sri Lankan government regularly sends officers to US-sponsored regional counter-terrorism workshops and courses,” the report said.

There were no terrorist attacks in Sri Lanka in 2017, it said. (Lahiru Pothmulla)


  Comments - 12

  • suda Friday, 21 September 2018 09:26

    Not vulnerable , it has already been attacked. As ordinary people how can we live in here. The 225 MPs and Pradeshiya sabas provincial councils, MCs they did not even cut their expenses by a bit. It is increasing. Api me rate ipadila thiyenne ape karumeta" . We are always crying inside and whispering they are destroying my beautiful country for power.

    Reply : 2       19

    Rasheed Friday, 21 September 2018 10:19

    You have not understood the news.

    Reply : 3       9

    suda Friday, 21 September 2018 10:41

    Rasheed my friend , can you explain it. I thought by reading this the caused for this is financial instability of the country and the main reason for that is incapable power greedy politicians.

    Reply : 2       9

    BuffaloaCitizen Friday, 21 September 2018 10:17

    We have State Money Laundering, just ask Ali Baba and his coyotes.

    Reply : 5       18

    cheers Friday, 21 September 2018 10:28

    So USA is referring to the tamil tigers who did so much of money laundering and even one tamil in USA got caught for inside trading and also funding Hilary Clinton in one of her election campaigns who had strong links to tamil tiger terrorist in SL

    Reply : 21       11

    Jaliya Friday, 21 September 2018 11:45

    That was all in the past. They are talking at present. The true facts are all the Government clan are crooks may be with the exception of 2-3 members who are honest. All others are swindlers they have a fake respect to the signed anti money laundering treaty ... same as the UNCHR say one thing and do something totally contradictory. People here are used to it that's why we are the wonder of third world !!

    Reply : 4       13

    fareed Friday, 21 September 2018 10:34

    US is an hindrance to the development of smaller and weaker nation like Sri Lanka. Sri Lanka should do what is good for itself and the US cannot be the world policeman every day or every other day. US should allow countries to prosper and it is the US imposing sanction on countries and starting trade wars and wars and that make countries facing economic difficulties. In fact, US should stop all kinds of aggression and that will help money laundering and terror financing.

    Reply : 14       6

    Laundry Friday, 21 September 2018 20:34

    When criminals use the financial system for cleaning their ill gotten gains (drug trafficing, extorsion, people smuggling, murder, bribes etc) it becomes everyones business and responsibility to stop it. If you do then the next bullet to kill our close loved one can be stopped from being financed. You should be thankful the US is looking in to these type of things. Best you not comment if you do not understand the subject of money laundering.

    Reply : 1       3

    Summa Friday, 21 September 2018 10:56

    Our Parliament in Colombo is the BIGGEST and other 6,000-odd leeches all over are smaller, LAUNDRIES in country.

    Reply : 2       14

    Roy Friday, 21 September 2018 17:03

    Fared, you have not understood the story. Don't blame the west for all the ills created by us.

    Reply : 0       5

    Harini Friday, 21 September 2018 20:41

    What? There must be some mistake because this government is the best thing that ever happened to Sri Lanka. There is money laundering and terror financing but I thought that was this government's national manifesto since 2015. It sure feels like it. Robbing people's money through the Bond scam is money laundering. And bleeding people to death through taxation and a high cost of living is a terrorism of sorts. Increasing their own salaries, giving themselves luxuries at the cost of tax payers is also financing terrorists (themselves).

    Reply : 2       2

    Bamunuarachchi Saturday, 22 September 2018 13:17

    As long as govt tax money flowing to the country, money laundering cannot be stopped. I already asked my children not to send a single dollar to this country. The way things happening in this country I hesitate to stand up to pay respect to the national anthem.

    Reply : 0       1

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