Four managers attached to prominent private banks have been arrested by the Financial Crimes Investigation Division (FCID) of the Criminal Investigation Department (CID) over an alleged illegal transfer of approximately US$1 billion out of Sri Lanka.
According to police, the four suspects were arrested separately at the premises of the respective private banks where they were employed.
Police said this is believed to be the first instance in Sri Lanka where bank officials have been arrested in connection with an alleged offence of this nature.
Investigators have reportedly uncovered evidence that the alleged mastermind behind the operation made weekly cash payments to the four bank officials in return for their assistance.
The weekly payments allegedly ranged between Rs. 30,000 and Rs. 100,000, depending on the individual. Investigators have also found that one of the arrested managers was allegedly given a lump-sum payment of around Rs. 1 million on at least one occasion.
The FCID is continuing investigations to determine the full extent of the alleged financial transactions and identify any other individuals involved.
Further investigations are underway.
