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Wednesday, November 19, 2008 - 05.08 GMT |
Central Bank forfeits TRO Funds
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The Central Bank has forfeited a sum of
approximately Rs. 71 million which was lying
to the credit of the Tamil Rehabilitation
Organization (TRO).
The TRO accounts were suspended in Sri Lanka
in terms of the provisions of the Financial
Transactions Reporting Act and the
Convention on the Suppression of Terrorist
Financing Act in August 2006.
"The suspension was carried out on the
grounds that the large sums of money
received by the TRO from time to time from
international non-governmental
organizations, individuals, foreign entities
and TRO branches in several foreign
locations, purporting to be funds for
humanitarian projects in Sri Lanka, were,
according to intelligence reports, mainly
used to finance terrorist activities, and
that the money, securities or credits which
were lying to its credit were being used or
intended to be used for such purposes," a
Central Bank statement said.
Investigations are yet in progress to trace
and forfeit any further funds and assets
belonging to the TRO. Accordingly, the
general public is cautioned that they should
not have any financial transactions or any
other links with the TRO, or with any of its
officers, since any involvement including
any financial connection with a proscribed
organization, is a criminal offence.
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