A 35-year-old resident of Wellawatte has been arrested by the Financial Crimes Investigation Division (FCID) over an alleged large-scale foreign exchange fraud involving the transfer of millions of US dollars overseas through companies registered under different names.
Police said the suspect was arrested on June 19 in the Periyamulla area of Negombo following an investigation into the alleged registration of multiple companies and bank accounts that were used to falsely claim imports and facilitate the transfer of foreign currency out of Sri Lanka.
Investigators allege that funds linked to drug trafficking were deposited into company accounts and later transferred abroad, while false import transactions were used to evade customs duties and taxes. Authorities also suspect the proceeds were used to acquire assets and properties in violation of anti-money laundering laws.
According to Police, investigations further revealed that between January 1, 2023 and September 15, 2025, 89 local companies had reportedly transferred large sums of US dollars overseas through Telegraphic Transfers (TTs) on the pretext of importing goods, despite no such imports taking place. The matter had been reported to the Inspector General of Police by Sri Lanka Customs.
The Financial Crimes Investigation Division is conducting further investigations. (Newswire)