The Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka (CBSL) has imposed administrative penalties on two financial institutions from 01 January 2024 to 30 April 2024.
According to the CBSL, administrative penalties were imposed on DFCC Bank PLC and Sampath Bank PLC.
The FIU collected penalties amounting to Rs. 3 million in total from 01 January to 30 April 2024 to enforce compliance on Financial Institutions, while the money collected as penalties was credited to the Consolidated Fund.
The CBSL states financial penalties are imposed on Institutions for non-compliance with the provisions of the Financial Transactions Reporting Act, No. 6 of 2006 (FTRA). (Newswire)
