March 31, Colombo (LNW): President Anura Kumara Dissanayake has announced that the government will present the Proceeds of Crime Bill to Parliament on April 08, 2025, aiming to recover assets accumulated through illegal means.
Addressing a public gathering in Welipitiya, Matara, the President reaffirmed his administration’s commitment to tackling corruption, declaring that those involved in fraud and financial misconduct will no longer be allowed to govern the country.
During his speech, President Dissanayake also highlighted the government’s plans to restart numerous development projects that were abandoned due to the economic crisis, particularly those dependent on foreign assistance.
Explaining the purpose of the upcoming legislation, the President stressed that the bill is not driven by personal vendettas but by the need to uphold the rule of law and restore public trust in governance.
“How should a government deal with corruption and crime? By enforcing strong laws. On 8 April, we will present a new law designed to reclaim stolen wealth and prevent criminals from holding on to illegally acquired assets,” he stated.
The Proceeds of Crime Bill is designed to close loopholes in the legal system that have previously allowed individuals to retain control over illicitly obtained assets.
It will grant authorities the power to trace, freeze, and confiscate properties linked to unlawful activities, ensuring that they are properly managed and disposed of in accordance with legal procedures.
Amongst the key provisions of the bill are the appointment of specialised investigative teams and designated officers who will oversee the identification and recovery of criminal proceeds.
The legislation will also introduce modern investigative techniques, including forensic financial audits and digital analysis, to strengthen enforcement measures against financial crime.
