Sri Lanka's measures to combat money laundering and terrorist financing

The Asia/Pacific Group on Money Laundering (APG) completed its assessment of Sri Lanka's anti-money laundering and counter-terrorist financing (AML/CFT) system. The assessment is a comprehensive review of the effectiveness of Sri Lanka's AML/CFT system and its level of compliance with the FATF Recommendations. 

The report was formally adopted by at the APG Annual Meeting in July 2015.  The findings of this assessment have also been reviewed and endorsed by the FATF. 

Sri Lanka has a sound understanding of most of its money laundering threats and an acute understanding of terrorist financing risks, shaped by years of war between the Sri Lankan Government and the LTTE, that ended in 2009. Sri Lanka possesses the foundation for an effective AML/FT system but to date there has been limited demonstration of effectiveness with only one money laundering conviction.