While acknowledging the regulatory violation, the Company wishes to clarify that this penalty was imposed inter-alia mainly due to a delay in updating and screening the United Nations Security Council Resolutions (UNSCR) Sanction lists.
Subsequently, these procedural shortcomings were fully rectified by properly updating the system as to comply with the relevant provisions in the FTRA and related FIU directives.
Kanrich Finance Ltd is fully committed to abide by all policies, directions, guidelines and rules set out by the regulatory authorities including the Central Bank of Sri Lanka (CBSL) / Financial Intelligence Unit (FIU) and will ensure complete compliance since this promotes good corporate governance and best ethical practices.
The company is also socially responsible and safeguards the interests of customers, clients, and shareholders at all times to contribute to the building of a stable and resilient financial sector in Sri Lanka.