The Cabinet of Ministers has granted approval to take legal action against individuals using eZCash and mCash money transfer systems for transactions linked to drug trafficking and organized crime.
Authorities have observed that these platforms are frequently used to conduct financial transactions without revealing identity, raising concerns over their misuse.
To address this, Cabinet approval had earlier been given to appoint a committee chaired by the Secretary of the Ministry of Public Security and Parliamentary Affairs to recommend measures.
The committee has now submitted its recommendations, which include establishing a consolidated data system integrating the Central Bank of Sri Lanka, Sri Lanka Police, and the Department of Registration of Persons.
This system is expected to help prevent illegal activities, identify individuals involved, and enable legal action against them.
The Cabinet has approved the proposal presented by the Minister of Public Security and Parliamentary Affairs to implement these measures. (Newswire)