{"id":129578,"date":"2022-10-29T16:44:44","date_gmt":"2022-10-29T23:44:44","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=129578"},"modified":"2022-10-29T16:44:44","modified_gmt":"2022-10-29T23:44:44","slug":"is-the-central-bank-an-accessory-to-money-laundering-and-land-fraud-an-open-letter-to-mr-nandalal-weerasinghe-governor-of-the-central-bank","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2022\/10\/29\/is-the-central-bank-an-accessory-to-money-laundering-and-land-fraud-an-open-letter-to-mr-nandalal-weerasinghe-governor-of-the-central-bank\/","title":{"rendered":"Is the Central Bank an Accessory to Money Laundering and Land Fraud? \u2013 An Open Letter to Mr. Nandalal Weerasinghe Governor of the Central Bank"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>By The Legal Arm of \u2018The Socialist Vanguard Party for the Restoration of a Sovereign Unitary State of Sri Lanka&#8217;<\/em><\/span><\/h2>\n\n\n<p>Director, Financial Intelligence Unit<\/p>\n\n\n\n<p>Central Bank of Sri Lanka<\/p>\n\n\n\n<p>No. 30, Janadhipathi Mawatha<\/p>\n\n\n\n<p>Colombo 01<\/p>\n\n\n\n<p>Amendments to the Registration of Documents Ord 23 of 1927 is being discussed in parliament, without reference to Act 6 of 2006 to prevent fraud and money laundering.<\/p>\n\n\n\n<p>It is necessary to amend the Ordinance to comply with Act 6 granting powers to the Registrar to reject invalid land transactions from entering the register&nbsp;<\/p>\n\n\n\n<p>In Act 6 of 2006, provision has been made for <em>\u2018The Financial Intelligence Unit of Sri Lanka\u2019<\/em> to prevent fraud and Money Laundering using land transactions.&nbsp;&nbsp; The Act has provision to check the owners names\/addresses\/telephone numbers\/NIC and to refuse land transactions [deeds] for registration if they do not comply with Act 6&nbsp;<\/p>\n\n\n\n<p>Registration of Documents Ord 23 of 1927 is an impediment to implement Act 6 of 2006.&nbsp; The Registrar does not have the power to reject deeds, under Section 7 of Ordinance 23 of 1927, for non-compliance.<\/p>\n\n\n\n<p>&nbsp;Land transactions with forged signatures are easily registered and money is laundered as the Registrar does not have the power to reject deeds under Section 7 of Ordinance 23 of 1927.<\/p>\n\n\n\n<p>It would make sense if an amendment to Ord&nbsp;23 has&nbsp;reference to Act 6 giving power to the Registrar&nbsp;to reject&nbsp;invalid deeds by checking&nbsp;the owners\u2019 names\/addresses\/telephone numbers\/NIC as done in&nbsp;all other countries&nbsp;&nbsp;&nbsp; <a href=\"http:\/\/fiusrilanka.gov.lk\/docs\/Rules\/2018\/2053_20\/2053_20_E.pdf\">http:\/\/fiusrilanka.gov.lk\/docs\/Rules\/2018\/2053_20\/2053_20_E.pdf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By The Legal Arm of \u2018The Socialist Vanguard Party for the Restoration of a Sovereign Unitary State of Sri Lanka&#8217; Director, Financial Intelligence Unit Central Bank of Sri Lanka No. 30, Janadhipathi Mawatha Colombo 01 Amendments to the Registration of Documents Ord 23 of 1927 is being discussed in parliament, without reference to Act 6 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,166,6],"tags":[],"class_list":["post-129578","post","type-post","status-publish","format-standard","hentry","category-corruption-and-bribery","category-crimes","category-politics"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/129578","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=129578"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/129578\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=129578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=129578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=129578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}