By: Staff Writer
November 28, Colombo (LNW): Under the leadership of President Anura Kumara Dissanayake, Sri Lanka is intensifying efforts to investigate and address high-profile corruption cases and financial crimes. The administration is focusing on recovering overseas assets linked to prominent political figures and is reviewing international legal frameworks to facilitate this process.
Key cases under scrutiny include the Central Bank bond scam, misappropriation of sugar tax funds, garlic fraud, coal procurement for the Lakvijaya Power Plant from 2022 to 2025, and the purchase of 96,000 metric tons of organic fertilizer.
Public Security Minister Ananda Wijepala announced plans to establish a mechanism for stolen asset recovery in line with the Stolen Asset Recovery Initiative (StAR Initiative). He emphasized the need for new legislation to support this mechanism, aligning with the government’s mandate from the recent elections.
Regarding the revival of the Financial Crimes Investigation Division (FCID), Minister Wijepala stated that while the FCID currently operates under the Criminal Investigation Department (CID) without being a separate entity, its functions will continue.
He noted that some initiatives to combat corruption and fraud can proceed under existing laws, but establishing a special investigative agency for stolen asset recovery would require new legislation.
The National People’s Power (NPP) party, which emphasizes rooting out corruption and fraud, is committed to enforcing laws that prevent corrupt individuals from easily obtaining bail.
Wasantha Samarasinghe, convener of the JVP-led Anti-Corruption Voice and a member of the NPP executive committee, revealed that 118 files related to alleged financial crimes, previously investigated by the now-defunct FCID, remain pending at the Attorney General’s Department. These cases, submitted in 2016, have been reviewed and completed by the FCID but are still awaiting prosecution.
The International Monetary Fund (IMF) has acknowledged the significance of recent corruption investigations in Sri Lanka.
The IMF’s Technical Assistance Report on Governance Diagnostic Assessment observed that widespread protests in 2022 revealed public consensus that systemic corruption played a significant role in precipitating the country’s economic crisis.
The resignation of former President Gotabaya Rajapaksa in July 2022 underscored the need for governance reform as a vital part of economic recovery, with civil society playing an instrumental role in advocating for accountability and transparency.
The enactment of the Anti-Corruption Act No. 9 of 2023 by the previous regime repealed the long-standing Bribery Act No. 11 of 1954, the Commission to Investigate Allegations of Bribery or Corruption Act No. 19 of 1998, and the Declaration of Assets and Liabilities Law No. 1 of 1975. Under this new legislation, the Anti-Corruption Commission has the authority to conduct preliminary inquiries upon receiving complaints, information, or motions.
Upon finding reasonable grounds to suspect an offense, the Commission can direct the Director General of the Bribery or Corruption Investigation Commission to conduct a full investigation and initiate criminal proceedings in the relevant courts.
This strengthened legislative and investigative framework is expected to restore public trust and provide a clear path forward in tackling corruption and financial misconduct across the nation.
