Sri Lanka’s Criminal Investigation Department (CID) has told Parliament that an investigation into fraudulent import transactions has uncovered the illegal transfer of approximately US$715 million (around Rs. 214.7 billion) overseas through 105 companies between January 2023 and March 2026.

Senior Deputy Inspector General of Police Asanka Karawita, who heads the CID, revealed the details before the Committee on Public Finance (COPF), stating that the funds had been remitted via around 24,300 telegraphic transfers (TTs) without the corresponding import of goods into Sri Lanka.

He said the investigation, launched following complaints from Sri Lanka Customs, found that 105 companies, involving 55 individuals and 227 bank accounts, were linked to the transactions.

According to the CID, the money was transferred using forged invoices and fabricated customs documents submitted to banks. The investigation has also identified the involvement of 13 state and private banks.

Karawita told the committee that one suspect, allegedly connected to 43 companies that transferred around US$43 million overseas, has already been arrested and remanded.

The CID further revealed that investigations indicate the network was linked to an international money laundering operation involving drug traffickers based in Dubai.

He said two key suspects were brought back to Sri Lanka from Dubai with the assistance of INTERPOL and have been remanded in custody, while investigations continue.

The CID’s Financial Crimes Investigation Division and Proceeds of Crime Investigation Division are continuing investigations into the alleged money laundering network. (Newswire)

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Colombo Chief Magistrate Asanga Bodaragama has directed the Criminal Investigations Department (CID) to swiftly conclude investigations into 26 underworld members who fled overseas using false names and photographs, and to report findings to the court.

The order was issued yesterday (26 Feb) after submissions by officials from the CID’s Organized Crime and Marine Crime Investigation Division regarding the suspects, identified as powerful gang members who had left the country.

The Magistrate questioned why, despite court instructions to investigate all 26 suspects, progress reports had been submitted for only two. 

Police informed the court that fingerprint records obtained from the Department of Immigration and Emigration had been forwarded to the Fingerprint Bureau, but only two reports had been received so far.

The Magistrate further inquired whether all 26 fingerprint records had been sent, to which the police responded that they had, and that steps were being taken to expedite the process.

The directive relates to suspects believed to have obtained foreign travel documents through the Immigration Department by using other individuals’ names, villages, and photographs.

After reviewing submissions, the Chief Magistrate ordered the CID to complete investigations without delay and present findings to the court. The progress of the probe is to be submitted on May 4. (Newswire)

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A follow-up discussion aimed at strengthening mechanisms to further expedite the passport issuance process for overseas Sri Lankans was held at the Ministry of Foreign Affairs on Monday (03).

The meeting, chaired by Foreign Minister Vijitha Herath, was attended by officials from the Department of Immigration and Emigration, the Consular Affairs Division, ministry representatives, and heads of Sri Lankan diplomatic missions abroad.

Discussions focused on updating the current passport issuance system, enhancing infrastructure, and identifying new methods to ensure accuracy and faster processing.

Issuing a statement, the Ministry of Foreign Affairs said providing a more efficient and accessible service to Sri Lankans living overseas remains a top priority. (Newswire)

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The Criminal Investigations Department (CID) has launched a probe into the overseas trips made by former President Ranil Wickremesinghe during his presidency.

The CID informed the Fort Magistrate’s Court of the investigation today. 

Presenting facts before the court, the CID stated that the investigation is being conducted under the Offences Against Public Property Act. (Newswire)

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Chinese financial data providers have recently stopped providing detailed information on the nation’s companies to overseas clients, underscoring the growing difficulty foreign firms face when trying to obtain data that Beijing may deem sensitive.  

Wind Information Co. in recent months ended allowing clients using its platform outside mainland China from accessing its corporate registry database, according to multiple people familiar with the matter.

Read more: https://www.bloomberg.com/news/articles/2023-05-03/china-restricts-overseas-access-to-corporate-registry-databases#xj4y7vzkg

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