Financial Intelligence Unit of Sri Lanka entered into a Memorandum of Understanding with the Registrar General of the Registrar General’s Department The Financial Intelligence Unit (FIU) of Sri Lanka entered into a Memorandum of Understanding (MOU) with the Registrar General of the Registrar General’s Department on August 06, 2024, at the Central Bank of Sri Lanka (CBSL) to receive information on Trusts, property registrations and any suspicious activities relating to Trusts and property registrations in relation to Money Laundering (ML), Terrorist Financing (TF) and related crimes. This MOU has been entered into by the FIU, in terms of the provisions of the Financial Transactions Reporting Act, No. 6 of 2006.
Legal persons and legal arrangements could be misused for ML/TF and related crimes, and thereby could threaten the stability of the national and global economic and financial systems. Legal arrangement includes an express trust, a fiduciary account or a nominee.
This MOU will facilitate Registrar General’s Department to provide information to the FIU relating to Trusts, property registrations and any suspicious activities, which will be vital for prevention, detection and prosecution of ML/TF and related crimes. With the signing of this MOU, the FIU has entered into 15 MOUs with domestic government agencies, including Sri Lanka Customs, Sri Lanka Police, Department of Immigration and Emigration, Inland Revenue Department, Department for Registration of Persons, Excise Department of Sri Lanka, Commission to Investigate Allegations of Bribery or Corruption, etc., in order to share information to strengthen the AML/CFT framework of the country. The FIU has entered into 45 MOUs with foreign counterparts as well.