🏛️ Cabinet Approves 5-Year Strategy to Combat Money Laundering and Terrorist Financing

The Cabinet of Ministers has approved a comprehensive national policy covering the 2026-2030 period to strengthen Sri Lanka's defense against evolving global financial crime risks. • Policy Scope & Purpose: The five-year policy aims to counter money laundering, terrorist financing, and the proliferation of weapons of mass destruction. It addresses complex risks stemming from rapid technological advancements in the banking & financial services sector. • Risk Assessment Basis: Formulated based on findings from Sri Lanka's third National Risk Assessment (2024-2025) conducted by the Financial Intelligence Unit (FIU) of the Central Bank, aligned strictly with global Financial Action Task Force (FATF) standards. • Key Objectives: The framework will enhance institutional coordination, tighten preventive measures, and improve the country's capacity to detect and mitigate financial crimes, protecting the broader Sri Lankan economy and its international standing. • Governance: The proposal was officially submitted by President Anura Kumara Dissanayake in his role as the Minister of Finance, Planning, and Economic Development.