Historic Ruling to End Corruption

Sri Lanka is taking bold action against systemic corruption. The adoption of the latest legislation will allow the government to identify, seize, and recover illicit assets acquired through criminal conduct.

“One of the serious demands put forwarded by the people during the last decade is that there should be some law to deal with corruption and misappropriation,” explains Lakmali Hemachandra, a ruling National People’s Power legislator. “Especially this was strongly surfaced after the 2022 and people demanded the recovery of stolen assets.”

The Proceeds of Crime Act was passed unanimously, possibly leading to fast-track unresolved and dragged-out corrupt deals. Restoring investor confidence and ensuring aid money isn’t siphoned off through corrupt channels involving politicians, bureaucrats, and business tycoons is also essential. The Commission to Investigate Allegations of Bribery or Corruption already exists, but it has limited powers, primarily in the area of asset recovery. If implemented with independence and integrity, the Proceeds of Crime Act could recover billions in looted wealth, deter future corruption, and rebuild public trust in state institutions.