Sri Lanka sets up police unit to investigate cases of unlawful asset accumulation

Colombo, Oct 20 (PTI) Sri Lankan Police on Monday set up its Proceeds of Crime Investigation Division which will investigate cases of financial crime and unlawful asset accumulation.

The newly established division is expected to play a pivotal role in tracking, investigating, and disrupting the flow of illicit wealth.

The action follows the parliament's adopting of the Proceeds of Crime Act No 5 of 2025 at the end of April.

The Act provides for the investigation, restraint, forfeiture and disposal of proceeds of crime. It will create the Proceeds of Crime Management Authority for inter agency cooperation and international collaboration to trace proceeds of crime.

Speaking on the occasion, Police Minister Ananda Wijepala said the unit will be important to pursue the cases of organised crime and illicit drug dealings.

“Those with acquisition of wealth through legal means need not fear,” Wijepala said.

Sri Lanka in the recent months have secured extradition of several drug lord underworld figures.

The current NPP government in the run upto last year’s major elections pledged to institute legal action for the seizure of all illegal assets of the former regime politicians.

Several court cases have been filed by the anti-graft commission against former regime members for corruption. PTI CORR ZH ZH