The Financial Crimes Investigation Division (FCID) has launched an extensive investigation into 17 more companies suspected of illegally transferring US dollars overseas under the guise of importing goods.
The FCID said preliminary investigations indicate that the 17 companies may have been operated by just one or two individuals.
The probe follows a complaint lodged by Sri Lanka Customs alleging that several companies had transferred funds overseas claiming they were making payments for imports.
Earlier investigations led to the arrest and remand of two individuals allegedly linked to 72 companies engaged in similar transactions.
According to the FCID, the 17 companies currently under investigation and the 72 companies against which legal action has already been initiated transferred a combined Rs. 190 billion worth of US dollars overseas between 1 January 2023 and 30 September 2025.
Of that amount, approximately Rs. 130 billion had been transferred by the 72 companies already subject to legal proceedings.
Investigators said the funds had been transferred through six private and state-owned banks in Colombo.
The FCID said some of the transfers had been made to countries considered high-risk jurisdictions in relation to money laundering, including Brazil, Panama, Mauritius and Madagascar.
Investigators further said no goods had been imported into Sri Lanka from those countries following the transactions, raising suspicions over the source and purpose of the funds.
Authorities are currently working to identify the individuals behind the 17 companies, with arrests expected once the investigation establishes their involvement.
Meanwhile, the FCID said its ongoing investigations had resulted in an estimated 90% decline in the number of individuals transferring money overseas through the Telegraphic Transfer (TT) system.
