## ⚖️ CPA Urges Withdrawal of AML & CFT Amendment Bills

The Centre for Policy Alternatives (CPA) has called for the immediate withdrawal of two amendment Bills—the Convention on the Suppression of Terrorist Financing and the Financial Transactions Reporting Bill—citing concerns over legislative overreach and lack of transparency. • Key Concerns: The CPA warns that the proposed laws, intended to meet Financial Action Task Force (FATF) requirements, grant expanded investigative powers with insufficient judicial oversight. • Risk Factors: The amendments could potentially compromise privacy, professional obligations, and the freedom of expression and association if misused. • Process Issues: Critics highlighted the lack of public consultation and the timing of the tabling—just before the Sinhala and Tamil New Year—which restricted the window for legal scrutiny. • Economic Context: While the Bills aim to bolster financial integrity and Sri Lanka's standing in the global banking & finance sector, the CPA emphasizes that such reforms must be balanced with fundamental rights. • Current Status: Based on provisional statements; the CPA is urging the Government to revisit the amendments through a more participatory and transparent process.