Sri Lanka's financial watchdog sniffs out dirty money, but luxury car splurges slip through the net

In the shadowy war against financial crime, Sri Lanka’s Financial Intelligence Unit (FIU) serves as the nation’s central nervous system, tirelessly tracking the illicit flows of money laundering and terror financing.

- By SANATH NANAYAKKARE

At a recent event, Dr. Subhani Keerthiratne, the Unit's Director, pulled back the curtain on this critical operation, revealing both hard-won gains and a glaring, multi-million-rupee vulnerability: the unchecked splurge on high-end luxury vehicles.

Housed within the Central Bank of Sri Lanka, the FIU bears a formidable mandate to scrub the financial system clean by combating money laundering, terrorist financing, and proliferation financing. Dr. Keerthiratne, a seasoned lawyer and senior official, articulated this mission with commendable clarity.

"We observe and act to ensure criminals cannot make use of our financial system," she stated. "When we remove the monetary element from these nefarious transactions, we strip criminals of their purpose.”