CBSL cracks down on unofficial remittances

TPL | Published: 3:36 PM Dec 4 2021
Business CBSL cracks down on unofficial remittances

The Central Bank of Sri Lanka is cracking down on unofficial remittances after money coming from official channels has plunged.

Software to track money laundering has been installed and the police are working to find and prosecute persons who are sending or receiving remittances through unofficial channels, said CBSL governor Ajith Nivard Cabraal.

“We can track unusual patterns of money from accounts and have already found suspicious transactions. The Financial Intelligence Unit with the help of the police are working on it,” he told the media today (04).

Cabraal said about 300 million US dollars were lost to unofficial channels in recent months.

The CBSL is giving Rs. 10.00 extra this month for dollars converted through official banks to encourage the use of official channels.

“From January more benefits will be given. Extra duty free allowances and pension schemes are planned,” he said.

TPL | Published: 3:36 PM Dec 4 2021

More News