⚠️ CBSL Flags Crosslink Entities for Unauthorized Deposit-Taking

The Central Bank of Sri Lanka (CBSL) has issued a public warning advising that Crosslink Investment (Pvt) Ltd and Crosslink Holdings (Private) Limited operated unauthorized deposit schemes. • Regulatory Action: CBSL ordered both entities to immediately halt all finance business operations following an investigation conducted under the Finance Business Act No. 42 of 2011. • Violations Identified: Crosslink Investment illegally accepted public deposits from April 2020 to January 2022. Both firms continued collecting funds through August 2022 using masked loan agreements and fixed deposit contracts. • Key Personnel Named: CBSL identified six directors and managers linked to the unauthorized business: - Directors: Wanasinghe Mudiyanselage Jaliya Kamal Wanasinghe, Wanasinghe Mudiyanselage Sanjaya Kamal Wanasinghe, Wanasinghe Mudiyanselage Udara Kamal Wanasinghe, and Kirage Premalatha. - Management: Rajapakshage Sachini Madhukala Rajapaksha (Director – Operations) and Dissanayake Mudiyanselage Anjula Sandeepani Dissanayake (Finance Manager).