Suspect remanded in private bank data breach case

Colombo Additional Magistrate Oshada Migara Maharachchi ordered yesterday (8) that another suspect involved in an illegal entry into a private bank's data system and a large-scale fraud of Rs. 13.2 billion be remanded until the 17th.

The suspect, a resident of Pottuvil arrested by the Computer Crimes Division of the Criminal Investigation Department for allegedly defrauding Rs.390 million, was sent to fiscal custody.

Police informed the court while producing the suspect that Rs. 390 million from the private bank were obtained by providing cryptocurrency.

The police further stated that these funds circulated through an entity named "Buy Today" and that investigations into the suspect's accounts are ongoing.

The main suspect in this case functions as a supervisor of major transactions at the bank, and police informed the court that the money was defrauded using the passwords of two other such officers.

Three individuals, including an officer responsible for entering bank account data, remain in remand custody.

The police requested the suspect's remand as further investigations regarding his accounts and the primary inquiry continue, noting that his release on bail could lead to witness tampering.

The legal team appearing for the suspect moved for bail, informing the court that their client had obtained dollars related to cryptocurrency and had conducted these transactions in good faith.

Rejecting the bail application, the Magistrate ordered the suspect to be remanded.