Category: Uncategorized
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Why Sri Lanka Needs a New Financial Transactions Reporting Act, Not Just Amendments
Categories: Uncategorized
The Sri Lankan Financial Transactions Reporting Act (FTRA) of 2006 was a crucial step in combating money laundering and financing of terrorism (AML/CFT). But after nearly two decades, the financial landscape has changed dramatically, rendering the Act outdated and insufficient. While amending the existing law might seem like a logical option, introducing a new Act
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Sri Lanka, a beautiful island nation renowned for its beaches and vibrant culture, is also committed to keeping its financial system clean and its citizens safe. This is where Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) laws come in. But what exactly are AML/CTF laws, and why are they important for Sri
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In the emerald embrace of the Indian Ocean, where sun-kissed beaches whisper secrets to swaying palm trees, Sri Lanka’s beauty is undeniable. But beneath this postcard-perfect paradise lies a hidden battleground: the fight against financial crime. Enter the intricate labyrinth of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations, where Sri Lanka is carving its
