Sri Lanka removed from the high-risk money-laundering list
COLOMBO – Sri Lanka was recently removed from the list of high-risk countries for money laundering and terrorism financing after it took a number of steps to adhere to the international regulations.
— NewsIn.Asia (@NewsIn_Asia) May 12, 2020
The Central Bank stated, ”The European Commission has de-listed Sri Lanka from its list of High-Risk Third Countries with Anti-Money Laundering and Countering the Financing of Terrorism Strategic Deficiencies published on May 7, 2020.”
It further said that the new list of EU high-risk countries will be forwarded to the EU Council and Parliament along with an Action Plan for a comprehensive policy on the elimination of money laundering and the financing of terrorism.
Sri Lanka was included in the list by Europe in February 2018 after the Financial Action Task Force (FATF) placed it on a ‘grey list’ with shortcomings in the anti-money laundering countermeasures.