2nd January 2018

Overseas Assets Acquired By Sri Lankan Politicians and Bureaucrats Through Criminal Means Have Been Located Abroad and “Provisionally Identified”

2nd January 2018 // 0 Comments

By Namini Wijedasa Some assets located overseas have been “provisionally identified” as being the proceeds of crimes committed by certain politically exposed persons (PEPs) of Sri Lankan origin, authoritative Government sources revealed this week. While they declined to say who these persons were, PEPs typically include politicians and bureaucrats. These were the outcomes of investigations conducted by the CIABOC (Commission to Investigate Allegations of Bribery or Corruption), the FCID (Financial Crimes Investigation Division) and the CID (Criminal Investigation Department), they said. “As at this moment, a few assets have been provisionally identified as proceeds of crime committed by certain politically exposed persons (PEP) of Sri Lankan origin.” In financial regulations, PEP describes someone entrusted with a prominent public function. They generally present a higher risk […]