Was it: The Central Bank, through its Financial Intelligence Unit (FIU), operates a highly sophisticated system designed to detect and address suspicious financial transactions. These […]
Category: Crime
Inaction: Sri Lanka’s Most Consistent Policy When Scandal Meets Silence, Governance Becomes Theatre
Image: AI Generated for illustration purpose only
Deep Dive: Unpacking Sri Lanka NDB’s Rs.13.2 Billion Internal Fraud Scandal
FINANCIAL CHRONICLE – The recent internal fraud incident at National Development Bank PLC (NDB), a publicly traded financial institution in Sri Lanka, emerged in early […]
NDB Fraud at LKR 13.2 Billion – Direct Hit on Capital, Profits and Trust
From Rs 380 million to Rs 13.2 billion – this is no longer an incident. It is a structural breach. Be that as it may, […]
NDB of Sri Lanka Reports Rs13.2 Billion Loss Due to Internal Fraud, Trading Suspended
Sri Lanka’s National Development Bank PLC has reported a significant internal fraud perpetrated by its employees, resulting in an estimated financial loss of around 13.2 […]
NDB Bank Fraud: Under the Lens – Questions No Longer Waiting
Allegations of fraud, internal controls in doubt, and mounting calls for regulatory scrutiny? Is the Central Bank on the ball? 4-Eyes rules clearly failed! Be […]