SL, Singapore to exchange info on financial crimes
The Financial Intelligence Unit of the Central Bank of Sri Lanka (FIU
- Sri Lanka) recently entered into a Memorandum of Understanding (MOU)
with the Suspicious Transaction Reporting Office of Singapore (STRO). It
will be the basis of reciprocity and in the spirit of cooperation and
mutual interest, within the framework of each Authority’s national
legislation, to facilitate the exchange of information related to
investigations and prosecutions of money laundering and terrorist
financing.
The MoU has been entered into by the FIU – Sri Lanka, in terms of the
provisions of the Financial Transactions Reporting Act, No. 6 of 2006.
Money laundering and terrorist financing are internationally
connected financial crimes which could threaten the stability of global
economic and financial systems.
Global coordination among financial intelligence authorities is
essential to fight money laundering and terrorist financing. FIU - Sri
Lanka has so far entered into MoUs with 32 jurisdictions, including the
MoU with the STRO, to share information for intelligence purposes, the
Central Bank said in a statement. |