Leveraging Sri Lanka's National Intelligence: Prospects from Anti-Money Laundering and Counter-Terrorist Financing

Abstract

The integration of enhanced financial intelligence for the Military and national intelligence is crucial to strengthen the national security framework of Sri Lanka. Financial intelligence provides specific behaviours, patterns, and connections of individuals or groups which are vital pieces of evidence in making predictions in the intelligence process. This paper delves into the feasibility of getting additional advantages by incorporating Anti- Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures of both national and international efforts to enhance the existing intelligence mechanism of Sri Lanka. Accordingly, the emphasis is made on demonstrating how financial intelligence would provide how efficiently identify, track, and recognise behaviors of criminals including terrorists. Hence, financial transaction details are considered accurate, and timely information which are categorized as premier information that is easily transformed to intelligence through analysis, synthesis, and interpretation. Most importantly, financial information is currently in the form of the digital environment, thereby dissemination of information amongst stakeholders is comparatively easier than other material, but non availability of mechanism to swiftly transfer financial information makes the vital intelligence obsolete. Accordingly, the author adopted the “Multi-method Qualitative” methodology during the study, where data were gathered through conducting interviews and primary and secondary data published by local and international agencies. Therefore, the paper underscores the existing AML and CTF practices, strengths, and weaknesses, and suggests improvements to be made to achieve the intended objective of acquiring financial intelligence a profound intelligence network.