By Namini Wijedasa
Sri Lanka will start its third mutual evaluation on anti-money laundering and countering the financing of terrorism (AML/CFT) next year – and officials admit the stakes are high.
The exercise is carried out in conjunction with the Financial Action Task Force (FATF) and its regional affiliate, Asia Pacific Group on Money Laundering (APG), every 5-10 years. It was initially scheduled to begin in March, but was postponed owing to the two major elections in 2024. It will now be done under the FATF’s revised methodology, which places sharper emphasis on effectiveness rather than merely having laws and processes on paper.
Read more in today's Sunday Times here
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