October 20, Colombo (LNW): The Sri Lanka Police officially unveiled the Proceeds of Crime Investigation Division (PCID) today (20), marking a significant move in the country’s efforts to clamp down on financial crime and unlawful asset accumulation. The newly established division, created under the provisions of the Proceeds of Crime Act No. 05 of 2025, is expected to play a pivotal role in tracking, investigating, and disrupting the flow of illicit wealth.
The PCID will operate from the old Police Headquarters in Colombo and was ceremonially inaugurated by Public Security Minister Ananda Wijepala. The unit has been specifically designed to probe cases involving the illegal acquisition of money, property, and other financial assets, extending its reach beyond criminal proceedings to civil action where necessary.
Unlike traditional criminal investigations, the PCID will also be empowered to initiate legal steps in instances of suspicious asset accumulation even when a direct criminal offence cannot be established. This broader civil authority is seen as a crucial mechanism for recovering wealth gained through unlawful means while closing loopholes often exploited by financial offenders.
Senior Deputy Inspector General of Police Asanka Karawita has been appointed as the Director General of the PCID for a three-year term, pending confirmation by the National Police Commission. SDIG Karawita concurrently heads both the Criminal Investigation Department (CID) and the Financial Crimes Investigation Division (FCID), bringing significant expertise to his new role.
A Deputy Director General will manage the division’s operational activities, with the PCID expected to work in close coordination with 34 government institutions, as outlined in the new legislation. These include agencies overseeing finance, public administration, law enforcement, and regulatory affairs.
Under its mandate, the division has been granted powers to temporarily freeze or seize assets suspected to be unlawfully acquired for a period of up to 30 days—an interim measure that allows time for further investigation while preventing the movement or disposal of those assets.
