The Central Bank of Sri Lanka (CBSL) has announced the administrative penalties imposed by the Financial Intelligence Unit (FIU) on two Reporting Institutions from November to December 2024.Â
According to the Central Bank, financial penalties are imposed on Institutions for non-compliance under the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA).
The FIU has collected penalties amounting to Rs. 3 million in total from November to December 2024 to enforce compliance on the institutions.Â
The Central Bank added that the money collected as penalties was credited to the Consolidated Fund. (Islandnews)
