New laws on funding terrorism

By Chandani Kirinde

The Government will seek Parliament approval this week to enhance the powers in the two acts that deal with money laundering and terrorism financing. The amendments to the Prevention of Money Laundering Act and the Convention on the Suppression of Terrorist Financing Act will be taken up for debate on Wednesday as part of the government’s counter measures against terrorism with the lapse of the emergency regulations.

The Terrorist Financing Act is applicable in respect of Sri Lankan citizens and other nationals who while residing in the country or overseas provide or collect funds or property with an intention of committing an offence which constitute an act of terrorism or provide material support or resources to terrorists.

The new amendments to the Act provide for freezing of property or funds belonging to a person or groups that violate this law. They empower any police officer above the rank of ASP to order such a freeze for up to seven days and seek an order from the High Court for an extension if necessary.

The amendments to the Act will also provide for the obligations of secrecy or restriction imposed on the disclosure of information in any other written law to be overridden in cases where it is suspected the persons have acted in contravention of this law.

Amendments to the Prevention of Money Laundering Act also enhance the scope of the original law to forfeit to the state any account, property or investment, income or profit earned by the commission of an unlawful activity.

The Prevention of Money Laundering Act was enacted in 2006 and the Convention on the Suppression of Terrorist Financing in 2005.

Top to the page  |  E-mail  |  views[1]
SocialTwist Tell-a-Friend
Other News Articles
Govt. blasts UN chief
Ten percent pay hike likely for public sector
3 killed, dozens injured as train crashes into Inter-city express
Progress at talks with TNA
Telecom pages hacked: Engineer arrested
Rains for 3 months
New laws on funding terrorism
Petitions listed for support on Oct.31
It was not MRA’s race
Launch of R.G. Senanayake biography
A sideshow that has become a necessary evil
Sights and sounds of LG polls campaigns in Negombo
Enabling the differently-abled to vote
UNP nominates Srikotha peon to debate Maharoof on his 1,000m donation
Mervyn storms Munneswaram festival, stops ‘sacrifice’ ritual
Radical changes wanted to stop the rot in Police force, says senior cop
Committee to consider special pay scale for cops
Management sees ‘guinea-pig’ students as way out of crisis
UNP unveils megapolis plan for western region
A voyage doomed to fail
Valuables lost by the lure of a quickie
Rare exhibition to showcase Jaffna’s little known facets
The killer strike
Warrior bees are back on Sigiriya Rock
Beira Lake area to come alive for Tourism Day
Protect these children
The wretched of the earth
Clean-up at CPC after dirty petrol
Sura Asura wins best drama award
Debunking Channel 4’s sloppy journalism


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 1996 - 2011 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved | Site best viewed in IE ver 8.0 @ 1024 x 768 resolution