Administrative Penalties imposed by the Financial Intelligence Unit (FIU) on Reporting Institutions from May to October 2024.
By virtue of the powers vested under Section 19 (1) read together with section 19 (2) of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA), penalties are imposed on
Institutions for non-compliance with the provisions of the FTRA. The penalty may be prescribed taking into consideration the nature and gravity of relevant non-compliance of the
Institutions
Accordingly, as Sri Lanka’s regulator for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), the FIU collected penalties as indicated below,
amounting to two million seven hundred and fifty thousand rupees (Rs. 2,750,000.00) in total from May to October 2024 to enforce compliance on Institutions. The money collected as
penalties was credited to the Consolidated Fund.
Download
