Underworld continues to use banking system to carry out illegal fund transfers

Controversy surrounds the failure on the part of the banking system to detect highly irregular large scale transactions carried out by drug kingpins over a period of time.

 Recent arrest of two persons, separately, allegedly involved in narcotics trade revealed the existence two such accounts in different banks.  

According to police headquarters, one account had recorded transactions to the tune of Rs 490 mn whereas the other revealed transactions worth Rs 10 mn to 40 mn on a monthly basis.  

There hadn’t been such previous detections though the underworld was widely believed to have exploited the banking system to collect money.

 The two accounts belonged to separate gangs with the one that had recorded transactions worth Rs 490 mn operated by a person involved with a major Ratmalana gang responsible for attacks on a hotel in Soysapura on May 19 and 29. Minor detection of heroin led to the bigger account maintained by an assistant quality controller of a Wellawaya garment factory on behalf of a Ratmalana drug baron said to be hiding in Dubai.

 According to police headquarters, in both cases, investigators were able to quite rapidly locate the bank branches used by the suspects.


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