7th February 2018
European Union lawmakers on Wednesday voted in favour of including Tunisia onto the bloc’s list of third countries considered at high risk of money laundering and terrorism financing. Sri Lanka and Trinidad and Tobago were also added to the blacklist. After Wednesday’s decision, Parliament may meet to discuss the EU… Read More
8th August 2017
Sri Lanka will share financial information with China and Bhutan facilitating investigation and prosecution of persons suspected of being involved in money laundering and terrorist financing under a new arrangement. Sri Lanka’s Central Bank signed two MOUs with the China AML Monitoring and Analysis Centre and Financial Intelligence Unit of… Read More
20th July 2017
Macau received a positive assessment in the Asia Pacific Group on Money Laundering (APG) Mutual Evaluation Report (MER) 2017. The report was discussed yesterday in the annual meeting of APG, which is being held in Colombo, Sri Lanka. Macau’s positive results were received in respect of its technical compliance with… Read More
19th July 2017
While Sri Lanka has made considerable progress in thwarting money laundering and terrorist financing over the past two years, more needs to be done to improve the situation, Finance and Mass Media Minister Mangala Samaraweera said yesterday.“ In fact, I have been informed that we are not yet completely out… Read More
17th July 2017
Sri Lanka is fully committed to eradicating financial crimes and is in the process of fixing gaps identified in its anti-money laundering and terrorist financing framework, Finance Minister Mangala Samaraweera said. Sri Lanka’s cabinet of ministers had approved a national policy overseen by the cabinet and from President Maithripala Sirisena… Read More
24th May 2017
One in five banks in the Asia Pacific expects tax evasion in 2017 to increase 100 to 500 per cent over last year’s levels according to a recent poll by data analytics firm Fico. A further one in five senior fraud managers surveyed said they expect the increase to be… Read More
24th November 2016
The Sri Lankan government is planning to set up a fully-powered UK style fraud office to fight corruption. Read More
18th October 2016
The head of Sri Lanka’s anti-corruption body resigned on Monday, government officials said, days after President Maithripala Sirisena implied her agency was favoring the rival party of his prime minister. Dilrukshi Wickramasinghe has headed probes into alleged corruption involving top officials in the former government of ex-president Mahinda Rajapaksa, including… Read More
1st September 2016
One of Sri Lanka's most controversial politicians has been charged with corruption involving the illegal transfer of state-owned weapons. Read More
24th August 2016
Two Australian companies are being investigated over alleged bribery scandals linked to the presidents of Sri Lanka and the Congo, after the firms sought to secure multi-million dollar contracts in those countries. A Fairfax Media and 7.30 investigation can reveal Perth’s Sundance Resources is implicated in an alleged bribery plot… Read More
Must Read

EU adopts Sixth Anti-Money Laundering Directive EU 6AMLD, deadline set

Countries across the European Union will have two years to implement a new system of jail sentences and sanctions for money launderers following the formal adoption of the EU’s latest anti-money laundering directive, dubbed 6AMLD (Sixth Anti-Money Laundering Directive) on 11 October 2018. Once the directive is published in the… Read More

Anti-money laundering compliance costs hit $25 billion annually – study

The cost of AML compliance across U.S. financial services firms equaled $25.3 billion per year based on survey responses from more than 150 decision-makers at banks, investment, asset management and insurance firms, according to a new study. The report shows that smaller firms are hit hardest, relative to their bottom… Read More