Sri Lanka, April 11 -- The Proceeds of Crime Act introduces non-conviction based asset forfeiture and strengthens Sri Lanka's legal tools for recovering illicit assets, including those held abroad.
The law shifts the burden of proof, enabling more effective recovery of stolen wealth and aligning Sri Lanka's legal framework with international standards.
TISL highlights the law's focus on asset recovery rather than punishment, reinforcing its potential to disrupt the financial incentives of grand corruption and kleptocracy.
There is a strong need for judicial safeguards within investigation processes to uphold due process.
The drafting process once again revealed its weaknesses and lack of structured public consultation, which must be add...