FIU and Excise Department join forces against financial crimes

Sri Lanka’s Financial Intelligence Unit (FIU) and the Excise Department signed a Memorandum of Understanding (MOU) to tackle money laundering, terrorist financing, and related crimes. 
The MOU, formalised on January 09, 2024, at the Central Bank of Sri Lanka (CBSL), enables the exchange of crucial information for more effective investigations and prosecutions. 
Money laundering and terrorist financing are financial crimes with a global presence, which could threaten the stability of national and global economic and financial systems. 

The MOU between the Excise Department of Sri Lanka and the FIU would enable both institutions to exchange information which is vital for prevention, detection and prosecution of such offences. Since 2008, the FIU has entered into 44 MOUs with foreign counterparts as well as 11 MOUs with domestic government agencies including Sri Lanka Customs, Department of Immigration and Emigration, Inland Revenue Department, Department for Registration of Persons, Sri Lanka Police, etc., in order to share information to strengthen the AML/CFT framework of the country.

J. M. S. N. Jayasinghe, Commissioner General of Excise and E. H. Mohotty, then Director, FIU signed the MOU on behalf of the respective institutions in the presence of Dr. P. Nandalal.Weerasinghe, the Governor of the CBSL, who is also the Chairman of the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) National Coordinating Committee.