CBSL: Respective banks have to deal with those arrested in connection with alleged illegal money transfers
By Shamindra Ferdinando A Central Bank official yesterday said that respective banks, whose employees were taken into custody over their alleged involvement in illegal fund transfer, should deal with the situation. The official emphasised that the Central Bank, in its capacity as the regulator, couldn’t intervene in this matter. The CBSL official was responding to […]
The Central Bank of Sri Lanka (CBSL) official stated that respective banks, whose employees were arrested for alleged involvement in illegal fund transfers, should handle the situation. The CBSL, as the regulator, cannot interfere in the matter. The arrests were made by the Financial Crimes Investigation Division (FCID) of the Criminal Investigation Department (CID) in connection with a USD 1 billion alleged money transfer operation.
Jiffry Mohamed, the alleged mastermind, was arrested in late June. The arrested employees, including Sharan Mario Fernando and Amila Udara Liyanamanna of four private banks, were remanded by the Colombo Magistrate Court until 20 August. The FCID informed the court that the arrests were based on information from Jiffry Mohamed. The CBSL official emphasized that there was no need for the police to formally inform the regulator about the arrests.
The regulator's role is limited to ensuring banks take disciplinary action against employees involved in fraud, while law enforcement agencies investigate the fraudulent activities.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
