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Financial Intelligence Unit of Sri Lanka sign MoU with China and Bhutan to share financial information

The Financial Intelligence Unit of the Sri Lanka’s Central Bank (FIU Sri Lanka) has entered into Memorandums of Understanding (MOUs) with the Financial Intelligence Unit (FIU) of the Kingdom of Bhutan and China AML Monitoring and Analysis Centre to share financial information.

The agreements were signed at the 20th Annual Meeting of the Asia/Pacific Group on Money Laundering (APG), held in Colombo during July 17-21, 2017, to share financial information in facilitating investigation and prosecution of persons suspected of being involved in Money Laundering and Terrorist Financing (ML and TF).

Dr H Amarathunga, Director FIU-Sri Lanka signed the MOU with Ms Luo Yubing, Director General, China AML Monitoring and Analysis Centre and Mr Phajo Dorjee, Deputy Governor/Head of FIU, Royal Monetary Authority of Bhutan on behalf of the respective institutions.

The MOUs have been entered into, in terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006.

China became a member of the APG in 2001 and joined the Financial Action Task Force (FATF) as a fully-fledged member in 2007.

The FIU-Bhutan which was formally established in October, 2010 within the Royal Monetary Authority, obtained its membership of the APG in 2011.

With the signing of the two MOUs, the FIU Sri Lanka has so far signed MoUs with FIUs of 35 countries.

Courtesy: Colombo Page