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The Financial Crimes Investigation Division was formed on 26 February 2015 under the purview of Sri Lanka Police Service. FCID is directly responsible in handling the investigations on the corruption charges against the Rajapaksa Administration and the public service that involved in large-scale corruption which led to destabilize the Government revenue.
Starting in 2002, governments around the world upgraded money laundering laws and surveillance and monitoring systems of financial transactions. Anti-money laundering regulations have become a much larger burden for financial institutions and enforcement has stepped up significantly.
The legal system in Sri Lanka comprises collections of codified and uncodified forms of law, of many origins subordinate to the Constitution of Sri Lanka which is the highest law of the island. Its legal framework is a mixture of legal systems of Roman-Dutch law , English law , Kandian law , Thesavalamai and Muslim law .
Penal Code of Sri Lanka (Sections 1 to 490) Chapter Sections Covered Classification of offences CHAPTER I 1 -4 CHAPTER II 5 - 51 GENERAL EXPLANATIONS CHAPTER III 52 - 68 OF PUNISHMENTS CHAPTER IV 69 - 99 GENERAL EXCEPTIONS, OF THE RIGHT OF PRIVATE DEFENCE CHAPTER V 100 - 113 OF ABETMENT CHAPTER V A 113A - 113B OF CONSPIRACY CHAPTER VI 114 - 127
The Prevention of Terrorism Act of 1978 is a law in Sri Lanka. It provides the police with broad powers to search, arrest, and detain suspects. It was first enacted as a temporary law in 1979 under J. R. Jayewardene presidency, then made permanent in 1982. [1]
The Supreme Court of Sri Lanka did not grant leave to proceed in a fundamental rights case that requested a separate inquiry into the bond issue, as no laws were broken. [ 23 ] Mahendran denied any wrongdoing in the controversial bond auction and asserted that he was ready to face any inquiry to prove his innocence.
Secondary regulation is provided by the Money Laundering Regulations 2003, [85] which were replaced by the Money Laundering Regulations 2007. [86] They are directly based on the EU Directives 91/308/EEC, 2001/97/EC and (through the 2007 regulations) 2005/60/EC. The regulations list a number of supervisory authorities who have a role in ...
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (Anti–money laundering or AML), combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction.