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CBSL issues Warning on rising crypto scams

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The Central Bank of Sri Lanka has once again warned the public about  increasing number of financial scams, promising high returns based on crypto investments.

The Bank insists that it has not granted licences or given authorization to people or business for activities such as cryptocurrency operations, Initial Coin Offerings (ICOs), mining, exchanges, deposit-taking or custody services, or advisory services related to cryptocurrency.

The Bank while alerting the public on alarming rise in fraudulent activities related to crypto investments said that it is crucial to be aware of the tactics used by fraudsters to safeguard one’s finances and stay vigilant.

“Fraudsters utilize various tactics, exploiting social media to advertise schemes with high returns and often boasting about their claimed earnings.

This creates a false sense of legitimacy and attracts new participants. Further, scammers use platforms like Whatsapp and Telegram to communicate with victims”, the Central Bank message said.

The announcement said that Scam advertisements often lead to professional-looking websites, aiming to disguise their fraudulent nature. Some scammers go a step further by conducting classes or awareness sessions on these fabricated platforms, providing misleading information on earning high returns or trading cryptocurrencies.

After an investment is made, scammers may swiftly seize funds or continue the deception to attract more victims. It is crucial to recognize that you may not realize you’ve fallen victim to a scam until attempting to divest from your investment. Protecting Yourself from Scams Cryptocurrencies are unregulated in Sri Lanka, not considered legal tender, and lack regulatory safeguards.

The following entities were found promoting the involvement of cryptocurrencies:Sport Chain App, Sports Chain ZS Society Sri Lanka, OnmaxDT 3, MTFE App, MTFE SL Group, MTFE Success Lanka (Pvt) Ltd and MTFE DSCC Group (Pvt) Ltd.

Source – dailynews.lk

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Let’s build a nation rooted in historical heritage (Pics)

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President Anura Kumara Dissanayake stated that a society cannot progress without a meaningful connection to its historic heritage and that the nation’s development path must be chosen accordingly.

The President made these remarks while addressing a ceremonial gathering yesterday (July 10) afternoon at the historic Ruhunu Kataragama sacred site.  

Earlier in the day, President Dissanayake visited the sacred grounds of Kataragama, participated in religious observances and later paid a courtesy call on the Venerable Kobawaka Dhamminda Nayaka Thera, the Chief Incumbent of the historic Kirivehera Rajamaha Viharaya, inquiring about his well-being and engaging in a brief discussion.

The President also attended the final Randoli Maha Perahera (Golden Chariot Grand Procession) of the annual Esala Festival at the Ruhunu Kataragama Maha Devalaya, where he witnessed the ceremonial placement of the sacred relic casket upon the relic bearing tusker.  

Addressing the gathering, President Dissanayake further emphasised that a nation can only move forward by maintaining continuity with its historic heritage. He noted that every developed country in the world has achieved progress by preserving its historical legacy and building upon it, stressing that Sri Lanka, too, must choose a development path anchored in its heritage.

The President highlighted that Buddhism played a pivotal role in transforming our society into a cultured civilisation and that cultural festivals like this help revive and strengthen the moral and social values of a society often preoccupied with material pursuits.  

He pointed out that the Ruhunu Kataragama Perahera has been held continuously for 2,186 years, spanning nearly a hundred generations and that its survival has been possible due to the deep connection between this cultural ceremony and the lives of the people. The President extended his gratitude to all those, including the Chief Incumbent, who contributed to the success of this year’s procession.  

Among those present at the occasion were Deputy Minister of Trade, Commerce, Food Security and Cooperative Development, R.M. Jayawardena, Governor of the Uva Province, Attorney-at-Law Kapila Jayasekara, Member of Parliament Ruwan Wijeweera, Chairman of the Kataragama Pradeshiya Sabha, Dharmapala Herath and Monaragala District Secretary Pasan Ratnayake.

(President’s Media Division)

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Charges against Keheliya & others postponed

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The Colombo Permanent High Court Trial-at-Bar has postponed the formal serving of charges against former Health Minister Keheliya Rambukwella and 12 others to Sep. 16, citing delays in the printing of annexures required to accompany the chargesheets.

Deputy Solicitor General Lakmini Girihagama, appearing for the prosecution, informed the court that while the chargesheets had already been filed, the annexures had not yet been submitted due to printing delays. She noted that it would cost approximately Rs. 866,565 to print the annexures for each accused and that the documents for all twelve defendants are yet to be prepared.

The Government Printer has indicated that it would take about 21 days to complete the printing. Therefore, the prosecution requested the court to reschedule the case accordingly. The court granted the request and fixed the next hearing for Sep. 16.

The Attorney General has filed 13 charges against the accused, including allegations of conspiring to fraudulently misappropriate Rs. 1.444 billion in public funds by supplying 6,195 vials of human immunoglobulin and non-pharmaceutical substances such as Ritopsimap to the Ministry of Health’s Medical Supplies Division.

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UK’s relaxed trade rules to boost SL exports

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The Government of the United Kingdom (UK) has unveiled a package of reforms to simplify imports from developing countries like Sri Lanka after upgrades to the Developing Countries Trading Scheme (DCTS).

The changes, announced as part of the UK’s wider Trade for Development offer, aim to support economic growth in partner countries, including Sri Lanka, while helping UK businesses and consumers access high-quality, affordable goods.

New measures include simplifying rules of origin, enabling more goods from countries such as Sri Lanka, Nigeria, and the Philippines can enter the UK tariff-free, even when using components from across Asia and Africa.

These changes are expected to be in place by early 2026.

This move strengthens Sri Lanka’s position in its second-largest apparel market, supporting exports, jobs, and economic growth.

The British High Commissioner to Sri Lanka, Andrew Patrick, said: “This is a win for the Sri Lankan garment sector, and for UK consumers. With the UK being the second largest export market and garments making up over 60% of that trade, we know manufacturers here will welcome this announcement.

“We want Sri Lanka to improve the utilisation of the UK’s Developing Countries Trading Scheme for a wider range of goods, not just garments. With the Sri Lankan government’s ambition to grow exports, and with the simplification of rules of origin for other sectors too, we strongly encourage more exporters to explore how they can benefit from the preferences offered by the DCTS. The UK remains committed to working towards creating shared prosperity for both our countries.”

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