The Central Bank of Sri Lanka has stated that individual commercial banks are responsible for handling disciplinary matters related to four employees arrested in connection with an alleged illegal money transfer scheme worth approximately USD 1 billion.
Four employees from private commercial banks have been remanded in custody pending investigation into their alleged involvement in an illegal fund transfer operation. The Colombo Magistrate Court ordered the detention of Sharan Mario Fernando, Umesh Indika, Dharmalingam Prasanth, and Amila Udara Liyanamanna until 20 August. The Financial Crimes Investigation Division of the Criminal Investigation Department arrested them at their respective bank branches in Colombo.
According to the Financial Crimes Investigation Division, the arrests were made based on information obtained from Jiffry Mohamed, identified as the alleged mastermind of the operation. Mohamed was taken into custody in late June and is accused of orchestrating the transfer of approximately USD 1 billion out of the country under the guise of importing goods over an extended period.
A Central Bank official stated that the regulatory body cannot intervene in individual cases involving bank employees suspected of criminal activity. The official explained that while the CBSL oversees the banking sector, responsibility for disciplinary action against employees rests with the respective banks, while law enforcement agencies handle criminal investigations. The Central Bank official noted this approach aligns with existing legal frameworks and drew comparison to the NDB fraud case, where the bank dismissed several employees while police investigations proceeded.
The official also clarified that while police may have informed the relevant banks of the arrests, formal notification to the Central Bank regulator was not necessary.
