India to support tracing money stashed abroad by previous regime

Tuesday, 03 February 2015 - 14:39

Indian media reported that India will help Sri Lanka set up a finance intelligence unit like entity at Colombo's request to trace more than 5 billion Dollars allegedly stashed overseas by the former regime.

President Maithripala Sirisena is moving to fulfil electoral promises to check corruption and repatriate money allegedly stashed off abroad by the Former regime, and members of their families.

The new government has informally approached the Narendra Modi government to assist in setting up the body, adding that a formal proposal could be expected soon.

The Indian finance ministry will share its best practices with Colombo to set up the unit, which could be modelled after the Indian body.