Government to Present Proceeds of Crime Bill to Parliament [VIDEO]

In a landmark move aimed at revolutionizing the anti-corruption landscape, the government is set to present the Proceeds of Crime Bill to parliament soon. This ambitious legislation holds the potential to dramatically enhance Sri Lanka’s ability to recover money, property, or other benefits obtained through criminal activities, marking a significant step forward in the nation’s ongoing battle against corruption.

The Proceeds of Crime Bill is designed to provide a robust legal framework for the identification, seizure, and forfeiture of assets derived from unlawful activities. By targeting the financial incentives that drive corruption, the bill aims to deter criminal behavior and promote a culture of accountability and transparency.

However, experts and stakeholders have identified three critical areas where the framework of the bill requires significant improvement to fully realize its transformative potential:

1. Clarity and Precision in Definitions: The bill must provide clear and precise definitions of key terms, such as “proceeds of crime” and “benefits obtained from crime,” to avoid ambiguity and ensure consistent application of the law. Without clear definitions, there is a risk of legal challenges and loopholes that could undermine the effectiveness of the legislation.
2. Strong Safeguards for Due Process: To protect individuals’ rights and ensure fair treatment, the bill must incorporate strong safeguards for due process. This includes provisions for timely and transparent judicial review, as well as mechanisms for appealing asset seizures and forfeiture orders. Ensuring due process will help maintain public trust and support for the new measures.
3. Comprehensive Asset Management Framework: Effective implementation of the bill requires a comprehensive framework for managing seized and forfeited assets. This includes establishing dedicated agencies or units with the expertise and resources to handle asset identification, valuation, and disposal. Proper management is essential to maximize the recovery of illicit assets and ensure they are used for public benefit.

As the Proceeds of Crime Bill heads to parliament, there is widespread hope that it will mark a turning point in Sri Lanka’s fight against corruption. By addressing these critical areas for improvement, the government can ensure the bill delivers on its promise and sets a new standard for anti-corruption efforts in the country.

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