19-Year-Old Arrested Over Rs. 10.4 Million Undiyal Transactions

A 19-year-old man has been arrested by the Criminal Investigation Department (CID) over alleged offences under Sri Lanka’s anti-money laundering laws in connection with an Undiyal money transfer network.

Police said the arrest was made on Tuesday (19) afternoon within the Dam Street Police Division following information received by the CID regarding an alleged illegal money transfer operation.

Rs. 10.4 Million in Earnings Under Investigation

According to investigators, the suspect was arrested after inquiries revealed that he had failed to satisfactorily account for or verify earnings exceeding Rs. 10.467 million.

Police said the investigation is focused on the suspected operation of an Undiyal network, an informal and unauthorized money transfer system used to conduct financial transactions outside regulated banking channels.

A counterfeit Rs. 1,000 currency note was also recovered from the suspect’s possession during the operation, according to Police.

The suspect has been identified as a 19-year-old resident of Colombo 05.

Further investigations by the CID are underway into the alleged financial transactions and the suspect’s involvement in the Undiyal network.

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