Four Private Bank Managers Arrested over Alleged Transfer of One Billion US Dollars Overseas

19-Aug-2026

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Four managers of private commercial banks were arrested on August 17, by officers of the Police Financial Crimes Investigation Division in connection with an alleged financial fraud involving a foreign exchange agent based in the Colombo Fort area who is said to have transferred one billion US dollars overseas without any corresponding imports.

The Financial Crimes Investigation Division said the four arrested bank managers were taken into custody at the respective banks where they were employed.

Investigations have revealed that the individuals arrested in connection with the alleged illegal money transfer operation had been making regular weekly payments to those involved. It has also been established that the respective bank officials were allegedly paid bribes on different occasions, amounting to Rs. 30,000, Rs. 50,000 and Rs. 100,000 per week.

Further investigations have revealed that one of the arrested managers had received a large sum of money amounting to approximately Rs. 1 million on a single occasion.

The Financial Crimes Investigation Division is conducting further investigations into the financial fraud, which is alleged to have taken place on a scale capable of adversely affecting the country’s economy.