US Ambassador to Sri Lanka Alina B. Teplitz warns that the Colombo Port City project could create a haven for money launderers.
Speaking to foreign media over the weekend, she said there was a risk that the Chinese-backed port city would be turned into a haven for money laundering by ‘nefarious actors’ who may try to misuse easy business rules as a permissive money laundering haven.
She added that the port city’s economic impact should be taken into account when considering the laws. The Ambassador further said that although the Government of Sri Lanka should reap the benefits of this investment, it should be concerned about the potential impact and the unbalanced competition.
