Memorandum of Understanding Signed Between the Commission to Investigate Allegations of Bribery or Corruption and the Financial Intelligence Unit of Sri Lanka

Having an objective to strengthen the fight against financial corruption, the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) and the Financial Intelligence Unit of Sri Lanka (FIU) formalized their collaboration by the signing of a Memorandum of Understanding (MoU) on January 18th, 2024.

This strategic partnership is rooted in the provisions outlined in the Section 61 of the Anti-Corruption Act, No. 9 of 2023. The MoU signifies a commitment to foster cooperation and mutual interest between the two institutions with the primary aim of exchanging intelligence pertinent to investigations.

The agreement explicitly outlines the scope of cooperation, to gather and exchange information with each other, concerning financial transactions suspected of being related to money laundering, terrorist financing, bribery or corruption.

Both CIABOC and the FIU recognize the necessity of a united front in addressing the multifaceted challenges posed by financial crimes. By formalizing this MoU, the organizations further aim to streamline the sharing of their experience and expertise and to conduct joint investigations, if necessary.

The MoU comes into effect from January 1st, 2024, signifying a proactive approach to the collaborative efforts of CIABOC and the FIU in combating financial crimes. This initiative reflects the commitment of both entities to secure a transparent and accountable financial system in Sri Lanka.

As the authorized sole entity to eradicate bribery, corruption & associated offences, CIABOC; by signing this MoU made a significant impact on the effectiveness and efficiency of investigations while enhancing accountability and integrity.

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