Cabinet Reveals Rs. 74 Billion Illegally Transferred Overseas Through Nearly 10,000 Transactions

Sri Lanka's Cabinet spokesman Dr. Nalinda Jayatissa has revealed alarming details of a large-scale illegal money transfer operation, disclosing that approximately Rs. 74 billion was moved out of the country through an elaborate network of bank accounts.

Massive Financial Operation Uncovered

Speaking to the media, Dr. Jayatissa stated that the funds were transferred via 89 bank accounts across 10,151 separate transactions, forming part of a broader alleged scheme believed to have facilitated the illegal transfer of around USD 1 billion overseas.

The scale of the operation has raised serious concerns among authorities, with the sheer volume of transactions suggesting a highly organised and systematic effort to move large sums of money beyond Sri Lanka's borders without authorisation.

Implications for Sri Lanka's Financial System

The revelation comes at a particularly sensitive time for Sri Lanka, as the country continues its efforts to stabilise its economy and rebuild confidence in its financial institutions following years of economic hardship. Illegal capital flight of this magnitude poses a significant threat to those recovery efforts.

Investigators are believed to be scrutinising the 89 identified bank accounts as part of ongoing inquiries into the origins of the funds and the individuals or entities behind the operation.

Further details are expected to emerge as authorities progress with their investigation into what could prove to be one of the largest illegal financial transfer cases uncovered in recent Sri Lankan history.

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