FCID arrests suspect over Rs. 24.8 billion in foreign transfers

The Financial Crimes Investigation Division (FCID) has taken a suspect into custody in Kotikawatta in connection with illegal financial operations involving the unauthorized outward remittance of foreign currency equivalent to approximately Rs. 24.8 billion. The arrest was executed following an extensive investigation into illicit foreign exchange mechanisms.

Preliminary inquiries revealed that the suspect utilized multiple Telegraphic Transfers (TT) to move substantial sums of foreign currency into offshore bank accounts over an extended duration. The transfers reportedly bypassed mandatory regulatory compliance and foreign exchange restrictions established by the Central Bank of Sri Lanka.

Law enforcement officers are scrutinizing commercial bank accounts, transaction documentation, and digital records associated with the operations. The FCID is working to identify other accomplices, shell corporate entities, or financial intermediaries that facilitated the multi-billion-rupee illicit money transfer operation.