AML/CFT National Coordinating Committee (NCC)
On March 27, 2006, an Advisory Board was set up, headed by the Secretary to the Treasury with representatives from the other connected Ministries/Institutions to facilitate the policy matters of the FIU. Subsequently, with the approval of the Cabinet of Ministers, on April 12, 2007, the Governor of the Central Bank of Sri Lanka was appointed as the Chairman of the Advisory Board of the FIU to look after the policy matters of the FIU. Approval was also granted by the Cabinet of Ministers, on January 06, 2016, to implement actions recommended in the Mutual Evaluation conducted by the APG in 2015. With the introduction of the National AML/CFT Policy, the Advisory Board was renamed as the AML/CFT National Coordinating Committee (NCC) from January 14, 2016.
The NCC serves as the body that facilitates and coordinates national efforts to combat ML/TF in compliance with relevant national laws, regulations, and international standards. The Governor of the Central Bank of Sri Lanka serves as the Chairman of the NCC. The NCC is comprised of 21 members, representing relevant government agencies, law enforcement agencies, regulatory authorities, and other stakeholders involved in AML/CFT activities. The Head of the FIU acts as the Secretary of the NCC.
NCC Members (Currently 21 members)
1. Governor of the Central Bank of Sri Lanka – Chairman
2. Secretary to the Ministry of Finance
3. Secretary to the Ministry of Defence
4. Secretary of Ministry of Justice
5. Secretary to Ministry of Foreign Affairs
6. Attorney General
7. Legal Draftsman
8. Controller General of Department of Import and Export Control
9. Controller General of Department of Immigration and Emigration
10. Inspector General of Police
11. Chairman of Board of Investment of Sri Lanka
12. Director General of Securities and Exchange Commission of Sri Lanka
13. Director General of Sri Lanka Customs
14. Registrar General of Companies
15. Director General of Accounting and Auditing Standard Board
16. Director General of NGO Secretariat
17. Chairman of National Dangerous Drug Control Board
18. Head of the Department of Foreign Exchange of the Central Bank of Sri Lanka
19. Commissioner General of Inland Revenue
20. Commissioner General of Department of Excise
21. Director General of Commission to Investigate Allegation of Bribery or Corruption
The NCC meets at minimum 4 times per annum, to discuss AML/CFT related issues, address emerging challenges, trends and concerns, review progress of national AML/CFT efforts, and provide policy directions in order to expedite the AML/CFT related activities.
The NCC contributes to the development and implementation of AML/CFT policies, regulations, and strategies at the national level in line with international standards and best practices. The NCC also facilitates conducting periodic risk assessments of ML/TF risks in the country and the development of mitigation strategies, while facilitating the sharing of information and intelligence related to ML/TF among member agencies and organizations. Further, the NCC also promotes AML/CFT related capacity building and training initiatives for stakeholders.
