Fraudulent transactions at NDB Bank totalled Rs. 13.6 billion, according to a final audit report discussed by Parliament’s Committee on Public Finance (COPF) this week.
The committee, chaired by Dr. Harsha de Silva, summoned officials of the Central Bank of Sri Lanka. It said the audit, covering 1 April 2016 to 31 March 2026, found fraudulent transactions of Rs. 13,639,664,684. That is about Rs. 400 million more than the Rs. 13.2 billion the bank disclosed on 6 April 2026, and Rs. 60 million more than the figure given on 26 June.
The report confirmed that no customer accounts were affected. It identified governance failures in the handling of Common Electronic Fund Transfer (CEFT) transactions, user activity in the core banking system and the management of user credentials. It also pointed to weak transaction monitoring, account reconciliation, internal audit and risk management.
Lawmakers noted that a significant share of NDB Bank’s shares is held by institutions representing public and state funds. The committee also reviewed LankaPay’s work on a centralised fraud monitoring system.
The report recommends improvements to the bank’s internal controls, governance structures and operating procedures.
