The Financial Crimes Investigation Division (FCID) says a suspect has been arrested in Kotikawatta in connection with the transfer of foreign exchange worth Rs. 24.8 billion to overseas bank accounts without importing any goods into Sri Lanka.
According to the police, the transactions were carried out through Telegraphic Transfer (TT) facilities between December 2024 and November 2025 using six fraudulent business entities, commonly referred to as shell companies.
Although the money transfers were reportedly made under the pretext of importing goods into Sri Lanka, investigations have revealed that no goods were actually imported into the country.
The suspect was arrested in the Kotikawatta area in connection with investigations into the large-scale financial transactions.
