Man arrested over alleged transfer of Rs. 24.85 billion in foreign currency abroad

A man has been arrested on suspicion of helping transfer foreign currency worth Rs. 24.85 billion out of Sri Lanka by falsely claiming the funds were being used to import goods, police said.

The Financial Crimes Investigation Division said investigations were launched following a complaint to Police Headquarters alleging that 89 companies registered in Sri Lanka had transferred foreign currency abroad through telegraphic transfers while claiming the payments were for imports.

The investigation, carried out on the instructions of the Inspector General of Police, found evidence relating to the alleged transfers, police said.

A suspect was arrested in Wellampitiya on Monday over allegations that five of the companies had fraudulently transferred foreign currency worth Rs. 24.85 billion out of the country.

The 35-year-old suspect is a resident of Wolfendhal Street, Colombo 12.

Investigators said the funds had allegedly been transferred to foreign accounts through telegraphic transfer, or TT, transactions between December 2024 and November 2025 without any corresponding import of goods.

The Financial Crimes Investigation Division is conducting further investigations under Sri Lanka’s anti-money laundering legislation.