Sri Lanka’s third Mutual Evaluation on the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework coordinated by the Asia Pacific Group on Money Laundering (APG) will begin in the near future.
During this upcoming Mutual Evaluation, Sri Lanka needs to demonstrate Technical Compliance with the 40 Recommendations of the Financial Action Task Force (the global policy setter on AML/CFT) and their effective implementation through 11 Immediate Outcomes.
For effective implementation of the Action Plans, approved by the Cabinet of Ministers, outlining the actions to rectify the remaining gaps in the AML/CFT framework have been communicated to the relevant stakeholder institutions, such as, the Attorney General’s Department, Sri Lanka Police, Sri Lanka Customs, Commission to Investigate Allegations of Bribery or Corruption, Ministry of Justice, Ministry of Defence, Ministry of Foreign Affairs, Ministry of Finance, Department of the Registrar of Companies, Inland Revenue Department, Department of Excise, Legal Draftsman’s Department, Registrar General’s Department, Securities and Exchange Commission of Sri Lanka, Insurance Regulatory Commission of Sri Lanka, Construction Industry Development Authority, National Gem and Jewellery Authority, National Secretariat for Non-Governmental Organisations and Department of Import and Export Control.
An AML/CFT Task Force was initially set yo in 2023 with the concurrence of the Cabinet of Ministers to monitor and follow-up the implementation of the aforesaid Institution-wise Action Plans.
The AML/CFT Task Force has now been reconstituted with high-level ministerial representation ensuring the Government’s support for this process and in alignment with its efforts to fight corruption in Sri Lanka. The members of this high-level AML/CFT Task Force are:
* Chairman Justice Buwaneka Aluwihare, PC – Retired Judge of the Supreme Court.
* Minister of Justice Harshana Nanayakkara,
* Minister of Labour and Deputy Minister of Economic Development, Prof. Anil Jayantha Fernando,
* Deputy Minister of Finance and Planning , Dr. Harshana Suriyapperuma,
* Senior Deputy Governor, Central Bank, Mrs. Nelumani Daulagala,
* Additional Director General, Ministry of Finance, Planning and Economic Development, A K D D D Arandara. The first meeting was held on January 29.
