FIU, NGO Secretariat collaborate to handle money laundering and terrorist financing

Sanjeewa Wimalagunarathna, Director General of the National Secretariat for Non-Governmental Organizations, and Dr. Subhani Keerthiratne, Director of the FIU exchanging the MOU in the presence of Dr. P Nandalal Weerasinghe, the Governor of the CBSL/Chairman of the AML/CFT National Coordinating Committee.

Sri Lanka’s Financial Intelligence Unit (FIU) signed a Memorandum of Understanding (MOU) with the National Secretariat for Non-Governmental Organizations earlier this week to strengthen information sharing on money laundering and terrorist financing investigations.

The MOU, signed under the Financial Transactions Reporting Act of 2006, facilitates collaboration on the investigation and prosecution of money laundering, terrorist financing, and related crimes. It enables both parties to share intelligence on individuals involved in such activities, aiming to bolster oversight and improve financial security in the sector, the Central Bank said.

Director General and the Registrar of the National Secretariat for Non-Governmental Organizations Sanjeewa Wimalagunarathna and Director of the FIU Dr. Subhani Keerthiratne signed the MOU on behalf of the respective institutions. 

Non-Governmental Organizations (NGOs) could be misused for ML/TF and related crimes, and thereby could threaten the stability of the national and global economic and financial systems. The National Secretariat for Non-Governmental Organizations is responsible for registering NGOs, monitoring their activities, providing facilities, and taking action against any misconduct etc. 

“This MOU will facilitate National Secretariat for Non-Governmental Organizations to exchange information with the FIU relating to any incident, investigation or prosecution stemming from the activities carried out by the National Secretariat or on any person connected to such activity, which will be an important aspect in prevention, detection and prosecution of ML/TF and related crimes,” the Central Bank said.

With the signing of this MOU, the FIU has entered into 16 MOUs with domestic government agencies, including Sri Lanka Customs, Sri Lanka Police, Department of Immigration and Emigration, Inland Revenue Department, Department for Registration of Persons, Excise Department of Sri Lanka, Commission to Investigate Allegations of Bribery or Corruption, Registrar General’s Department etc., to share information to strengthen the AML/CFT framework of the country. The FIU has entered into 45 MOUs with foreign counterparts as well.