Functions

The Financial Intelligence Unit of Sri Lanka (FIU-Sri Lanka) as the central repository of reported information performs the following core functions;

 

  • Receiving Cash Transactions Reports (CTR), Electronic Fund Transfers (EFT) and Suspicious Transaction Reports (STR) from all reporting institutions.
  • Analysing the data collected to identify financial trails to support prosecution. The analysis of data is mainly in three forms; tactical, operational and strategic.
  • Dissemination of information locally and internationally since money laundering and terrorist financing are often cross-border activities.

 

In addition to the above three core functions, the FIU performs a number of other supportive functions as listed below in the accomplishment of the above goals as prescribed by the Section 15 of the FTRA.

 

  • Issuing rules to the financial and other reporting sectors on customer identification and record keeping.
  • Conducting examinations to ensure compliance of the financial and other reporting sectors on AML/ CFT rules issued by the FIU.
  • Conducting programmes to enhance awareness among all stakeholders regarding AML/CFT measures.
  • Conducting research/link analysis on the trends of money laundering and terrorist financing and strategies for the development of efficient preventive measures.