Central Bank of has called upon the banking sector to prepare for country’s third Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) framework evaluation, cautioning that a negative listing in the assessment could severely hamper the economic progress of the country.
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 is required 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.
