Mechanism to combat increasing financial crimes strengthened



by Zacki Jabbar

The composition of the Committee to Prevent Money Laundering and Terrorism Financing would be expanded due to an increase in the number of financial crimes, the government said yesterday.

Lands and Parliamentary Affairs Minister Gayantha Karunathillake told the weekly Cabinet press briefing in Colombo that better coordination among state institutions was essential to combat financial crimes which had increased with the expansion of technology,

In this regard a proposal submitted by the Minister of Finance and Mass Media Mangala Samaraweera to expand the composition of the National Coordinating Committee for Preventing Money Laundering and Terrorism Funding had been approved by the Cabinet of Ministers on Tuesday, he said.

Karunathillake said that accordingly the Commissioners General of the Inland Revenue and Excise Departments, Director General of the Bribery Commission and representatives of the Ministries of Defence National Policies and Economic Affairs would be included as members of the Committee.

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