The Financial Crimes Investigation Division (FCID) has arrested a 25-year-old man from Wellampitiya in connection with the alleged transfer of US$25 million, about Rs. 7.5 billion, to overseas accounts.
Investigators allege the money moved through commercial banks by Telegraphic Transfer (TT), with the payments presented as settlement for imported goods. Authorities said their inquiries found no goods linked to the payments entered the country.
Six companies in Sri Lanka are alleged to have been used to make the transfers. The transactions are alleged to have taken place between January 2024 and July 2025.
Large outward transfers can add pressure on the foreign exchange available for genuine imports and on the rupee, which is why such cases are closely watched by regulators.
The suspect has been arrested in connection with the investigation, which is continuing.
