Approximately Rs. 74 billion has been transferred through 89 bank accounts in 10,151 transactions as part of an alleged Undiyal money transfer operation involving the illegal transfer of around USD 1 billion overseas, Cabinet Spokesperson Minister Dr. Nalinda Jayatissa revealed today (18).

Speaking at the weekly Cabinet media briefing held today at the Department of Government Information, Minister Jayatissa said the transactions were uncovered during an investigation into the alleged illegal transfer of funds to foreign countries.

The investigation was initiated in January 2026 following a complaint lodged by the Additional Director General of Sri Lanka Customs with the Financial Crimes Investigation Division (FCID), the Minister noted.

An individual was arrested in Negombo on June 19, 2026, and was initially placed under a seven-day detention order before being remanded.

The Minister said subsequent investigations led to the arrest of four managers of leading private banks over their alleged involvement in the operation. The suspects are being produced before court under the Prevention of Money Laundering Act and the Penal Code.

Minister Jayatissa further revealed that the Colombo Chief Magistrate’s Court had granted permission to disclose information relating to 210 bank accounts connected to the investigation.

He said the billions of rupees had allegedly been transferred overseas through the Telegraphic Transfer (TT) system.

Investigations are continuing into the alleged Undiyal operation and the individuals and financial institutions linked to the transactions.