News Today: Government secures powerful tools to recover stolen public assets globally

In a powerful move aimed at restoring public trust and fighting corruption, the Government now possesses the necessary tools to reclaim stolen public funds and repatriate proceeds of crime following the passing of the Proceeds of Crime Bill. This legislation marks a historic turning point in Sri Lanka’s fight against financial crimes and was announced during a parliamentary session by Public Security and Parliamentary Affairs Minister Ananda Wijepala.

Bill empowers the Government to recover assets gained through illegal activities, such as bribery, corruption, and fraud, even if those assets are located abroad. “This Bill will provide for the recovery of property acquired through crime, even if it is in a foreign country,” Minister Wijepala stated.

He emphasized that Sri Lanka had experienced widespread misuse of public funds in the recent past, with numerous investigations hindered by legal loopholes. The Proceeds of Crime Bill closes those gaps and facilitates international cooperation in the recovery of stolen assets.

This newly passed legislation offers comprehensive legal support for swift investigations and future prosecutions. It not only enhances the capacity of law enforcement agencies but also ensures justice for victims by enabling the return of illegally acquired property.

Minister Wijepala commended the current political climate for allowing such a progressive piece of legislation to be brought before Parliament. He called it a vital step toward transparency, accountability, and good governance.

With this bill in force, the Government reaffirms its commitment to battling corruption and restoring what rightfully belongs to the public.