The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka (CBSL) has collected Rs. 6.5 million in fines from three financial institutions from January to June 2025.
According to the CBSL, the fines were imposed on National Savings Bank, Bally’s Limited, and Bellagio Limited to enforce compliance on the institutions.
Issuing a statement, the CBSL said that by virtue of the powers vested under Section 19 (1) read together with Section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), financial penalties are imposed on Institutions for non-compliance with the provisions of the FTRA.Â
The penalty may be prescribed by taking into consideration the nature and gravity of relevant non-compliances of the Institutions.Â
Accordingly, as Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the FIU collected penalties of Rs. 6. 5 million in total from January to June 2025 to enforce compliance on Institutions.Â
The Central Bank added that the money collected as penalties was credited to the Consolidated Fund. (Islandnews)
