COLOMBO, Aug. 8 (Xinhua) -- Sri Lankan Cabinet of Ministers approved a proposal to implement the national policy for 2023-2028 on anti-money laundering and countering the financing of terrorism, the government's information department said on Tuesday.
The proposal was presented by President Ranil Wickremesinghe, who is also the country's finance minister.
The department, in its statement that lists out Cabinet decisions, said that the financial intelligence unit, operating as a department of the Sri Lankan Central Bank, enforces provisions to prevent money laundering, financing of terrorism and other illegal activities.
The financial action task force is the intergovernmental body that sets international standards to prevent money laundering and financing of terrorism and it has introduced 40 recommendations to be implemented by all countries, the information department said.
The Asia Pacific Regional Group on Money Laundering, the regional body of the financial action task force, is evaluating whether Sri Lanka is complying with the recommendations of the financial action task force.
The 3rd mutual evaluation is scheduled to start in March 2025. ■
