Last week the European Union (EU) had included Sri Lanka in a new list of 23 third countries with strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks. For each country, the Commission assessed the level of existing threat, the legal framework and controls put in place to prevent money laundering and terrorist financing risks and their effective implementation. The Commission also took into account the work of the Financial Action Task Force (FATF), the international standard-setter in this field. (Colombo Gazette) Dr. Harsha De Silva said that the Central Bank of Sri Lanka has been working on the issue and Parliament has already approved amendments to the necessary legislation on the Trust Ordinance, etc. The Government says it is confident of being removed from the European Union’s “dirty money” list over the next couple of months.Minister of Economic Reforms and Public Distribution Dr. Harsha De Silva said that the EU is likely to remove Sri Lanka from the list during its next review as Sri Lanka has taken steps to rectify any shortcomings.