Govt. to fast-track bond scam probe under new unit: Minister

Proceeds of Crime Investigation Division will facilitate and expedite investigations into major financial crimes like Bond scam  

By Ajith Siriwardana   

Claiming that some major scams including Central Bank Bond scam are in the hands of the Criminal Investigations Department (CID) and Financial Crimes Investigation Division (FCID) Public Security Minister Ananda Wijepala said yesterday the newly established Proceeds of Crime Investigation Division would facilitate and expedite investigations into such major financial crimes.  

Speaking at the opening of the new division, the Minister said the unit would be instrumental in recovering illegally acquired assets.

He noted that a former Auditor General had once stated that Sri Lanka had obtained project loans amounting to USD 8 billion, but the country possessed assets worth less than USD 2 billion, adding that the remaining USD 6 billion had been acquired illegally.

He said this Division with extensive powers under the Proceeds of Crime Investigation Division Act No. 05 of 2025 will facilitate to recover the stolen assets worth USD 6 billion.   

“What happened to the rest of USD 6 billion as revealed by the former Auditor General. Whoever had acquired it can be recovered from this Act. There are famous investigations in the CID and FCID such as the Bond scam. There are illegally acquired assets while some have received financial benefits through the Bond scam. This Division will facilitate and broaden the investigations into this,” he said.   

He said people strive to earn money through legal means while a handful of people earn through illegal means and added that this practice must be stopped.   

The Minister said this Act will not impact on anyone who earns through legal means.