News US$ 2.5 mn cyber heist exposes system failures Published 11 mins agoon 2026/07/11 COPF final report on USD 2.5 mn cyber fraud recommends action against all responsible The US$2.5 million loss incurred during Sri Lanka’s foreign debt repayment to Australia was a clear case o…
News US$ 2.5 mn cyber heist exposes system failures
Published 11 mins agoon 2026/07/11
COPF final report on USD 2.5 mn cyber fraud recommends action against all responsible The US$2.5 million loss incurred during Sri Lanka’s foreign debt repayment to Australia was a clear case of a cybercrime and theft, Committee on Public Finance (COPF) Chairman Dr. Harsha de Silva told Parliament yesterday. Presenting the COPF final report on the cyber fraud, Dr. de Silva said the incident amounted to a serious financial crime and called for a comprehensive investigation, by law enforcement authorities, to identify and prosecute all those responsible. The report revealed serious governance, procedural and operational failures that enabled the fraudulent transfer of public funds, while recommending sweeping reforms to strengthen cybersecurity, financial controls and public debt management systems. According to the report, officials of the Treasury and the Central Bank bore responsibility for governance lapses that contributed to the failures. It also highlighted the fact that the Ministry of Finance was operating an outdated Microsoft Exchange Server after security support had ended, while basic safeguards, such as multi-factor authentication, had not been implemented. The COPF said suspicious payment instructions linked to debt repayments involving India, the United Kingdom, Germany and Belgium had also been detected, preventing further losses. However, the US$ 2.5 million fraud materialised only in the repayment transaction involving Australia. The report has noted that officials had failed to verify lender email domains, relied on unverified email communications and lacked adequate internal controls, allowing the fraud to continue for months. Although the investigation uncovered system-wide weaknesses across several institutions, only four mid-level Finance Ministry officials had been suspended so far, the report said. The COPF has recommended a special audit of the foreign debt repayment process, strengthened cybersecurity measures across state institutions, updated financial regulations and improvements to public debt management systems. by Saman Indrajith
News Opposition signs no-confidence motion against Justice Minister for dereliction of duty over Negombo Prison deaths
Published 12 mins agoon 2026/07/11
Opposition and SJB leader Sajith Premadasa signing the no-confidence motion against Justice Minister Harshana Nanayakkara in the presence of Opposition MPs at the Parliamentary complex yesterday Opposition Leader Sajith Premadasa, together with Opposition MPs, yesterday signed a No-Confidence Motion (NCM) in Parliament against Justice Minister Harshana Nanayakkara.The move comes in response to the unrest at the Negombo Prison, where both prison officers and inmates were killed. Opposition members said the Minister had failed to fulfill his responsibility and accountability regarding their safety.According to the Opposition group, the NCM seeks to hold the Minister directly accountable for lapses in ensuring protection within the prison system.
News Navy, Coast Guard seize smuggled pharmaceuticals and cosmetics in Puttalam
Published 16 mins agoon 2026/07/11
Some of the pharmaceutical capsules seized during the Navy-Coast Guard operation The Navy, in collaboration with the Coast Guard, seized a consignment of smuggled pharmaceuticals and cosmetic items during a joint search operation at Sinnapadu beach, in Puttalam, on July 8. Naval personnel attached to SLNS Thambapanni under the Northwestern Naval Command, together with Coast Guard officers, conducted the operation and recovered 15 suspicious parcels believed to have been prepared for illegal transportation. A subsequent inspection revealed that the parcels contained approximately 143,600 pharmaceutical capsules, 22,064 packets of shampoo and 3,816 tubes of mosquito repellent, the Navy said. The seized items have been handed over to the Udappuwa Police for further investigations and legal action.