Cabinet gives nod to Committee on Money Laundering and Terrorism Financing Prevention

By Skandha Gunasekara

The Cabinet of Ministers this week gave its approval to make appointments to the National Coordinating Committee on Money Laundering and Terrorism Financing Prevention.

The proposal to widen the composition of the committee, which was submitted by Mass Media Minister Mangala Samaraweera, was approved by the Cabinet.

Accordingly, the Director General of the Commission to Investigate Allegations of Bribery or Corruption, the Commissioner General of the Department of Inland Revenue, Commissioner General of the Excise Department and representatives of the Ministry of Defense and the Ministry of National Policies and Economic Affairs are to be appointed to this Committee. 

Following recommendations by the Financial Task Force on Anti-Money Laundering earlier this year, the National Coordination Committee was established to combat money laundering, terrorism financing and other similar global offences.