The Ministry of Finance says the Sri Lankan nationals who have been listed in the panama papers, have a period of two weeks to provide explanations.
The ministry added that if no explanation is presented in that time frame, the FCID will take action against those individuals.
A committee comprising, officers of the Ministry of Finance and Central Bank have been appointed to investigate the case.
The ICIJ published a database of over two million individuals and companies that maintain offshore accounts and evade taxes.
Initially the panama papers revealed that the Mossack Fonseca law-firm in Panama showed to have listed, 3 companies, 07 intermediaries and 65 names linked to Sri Lanka.
The latest data reveals the names of 19 individuals and 22 accounts, the financial institutions and companies that have connections to Sri Lanka.