A high-level Task Force on Prevention of Money Laundering and Countering the Financing of Terrorism has been appointed to strengthen measures against money laundering and terrorist financing in Sri Lanka.
The third mutual evaluation of Sri Lanka’s Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) framework, coordinated by the Asia-Pacific Group (APG) on the Prevention of Money Laundering, is scheduled to commence soon.
As part of the evaluation, Sri Lanka must demonstrate technical compliance with the 40 recommendations of the Financial Action Task Force (FATF)—the global authority on anti-money laundering policies—as well as its effective implementation through 11 immediate outcomes.
To ensure a successful review, key stakeholders have been instructed to implement action plans approved by the Cabinet to address weaknesses in Sri Lanka’s financial crime prevention framework. These stakeholders include:
- Attorney General’s Department
- Sri Lanka Police
- Sri Lanka Customs
- Commission to Investigate Allegations of Bribery or Corruption
- Ministry of Justice
- Ministry of Defence
- Ministry of Foreign Affairs
- Ministry of Finance
- Department of the Registrar of Companies
- Department of Inland Revenue
- Department of Excise
- Department of Legal Drafts
- Department of the Registrar General
- Securities and Exchange Commission of Sri Lanka
- Insurance Regulatory Commission of Sri Lanka
- Construction Industry Development Authority
- National Gem and Jewellery Authority
- National Secretariat for Non-Governmental Organizations
- Department of Import and Export Control
A Task Force on Prevention of Money Laundering and Countering the Financing of Terrorism was first established in 2023 with the approval of the Cabinet to monitor and ensure the implementation of the action plans prepared by the relevant institutions.
To further strengthen Sri Lanka’s commitment to financial transparency and anti-corruption efforts, the Task Force has been reorganized under the directive of President Anura Dissanayake, with high-level ministerial representation.
The members of the high-level task force are as follows:
- Justice Buwaneka Aluvihare, PC – Retired Supreme Court Judge (Chairman)
- Harshana Nanayakkara – Minister of Justice
- Professor Anil Jayantha Fernando – Minister of Labour and Deputy Minister of Economic Development
- Dr. Harshana Suriyapperuma – Deputy Minister of Finance and Planning
- Ms. Nelumani Daulagala – Senior Deputy Governor, Central Bank of Sri Lanka
- A.K.D.D.D. Arandara – Additional Director General, Ministry of Finance, Planning, and Economic Development
At its first meeting on January 29, 2025, the Chairman and members of the Task Force emphasized the strategic importance of the mutual evaluation and urged full cooperation from all stakeholders to ensure Sri Lanka successfully meets international compliance standards in anti-money laundering and countering terrorism financing.
