The Police Financial Crimes Investigation Division (FCID) has arrested four managers from four private banks in connection with a probe into a massive foreign currency transfer.

Police said the arrests are linked to an incident where a money changer operating in Fort allegedly transferred USD 1 billion overseas without importing any goods into Sri Lanka.

Investigators believe the transaction was facilitated through multiple banking channels, prompting the arrest of the managers as part of efforts to determine how such a large sum was moved without corresponding imports.

The FCID is continuing inquiries into the case. (Newswire)

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