Sri Lanka approves new anti-money laundering policy

Colombo's Cabinet approved the implementation of the National Policy on Anti-Money Laundering, Countering the Financing of Terrorism and Countering Proliferation Financing for 2026 to 2030.

President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Economic Stabilisation and National Policies, submitted the proposal to strengthen the framework of the island nation against illicit financial activities.

Financial crimes such as money laundering, terrorist financing, and the financing of weapons of mass destruction proliferation pose severe risks to the economy, financial stability, and global financial integrity. Rapid technological progress and complex transactions make tracking and freezing criminal assets increasingly difficult.

To counter these threats, the Financial Intelligence Unit of the Central Bank of Sri Lanka conducted the third National Risk Assessment on financial crimes between 2024 and 2025, aligning with the standards of the Financial Action Task Force. This new national policy directly addresses the vulnerabilities identified during that assessment.