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{
    "id": 1554039,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1554039/?format=api",
    "text_counter": 617,
    "type": "speech",
    "speaker_name": "Tharaka, UDA",
    "speaker_title": "Hon. George Murugara",
    "speaker": null,
    "content": " The law requires you to make a report to the relevant centre so that we know what happens next. Now, there is a jittery feeling about the imposition of monetary, civil or administrative sanctions, but what I have in mind here is that this is anti-money laundering. This is in respect of the Public Benefits Regulatory Authority (PBRA) and the SASRA. Those are the people who receive money. What we are doing here is making a provision that if money is received and it is suspected to be money being laundered, they can take action immediately by ensuring that, that money is safeguarded in the interim as the rest of the action is being taken by either the PBRA or the Financial Reporting Centre (FRC). There must be an interim measure of protecting the money, which is purely administrative. That is what is being provided for. It is not a question of your rights being deprived quickly. If we do not do it, a similar thing will happen like what happened to one of the banks here. Money came from wherever it came from, there was an order of injunction restraining the money from being withdrawn, and when one judge lifted it, in less than 10 minutes, the money was gone. That is the work of money laundering. Once you are detected or you believe you are being detected, you move the money as quickly as you deposited it. That is why we are making a provision that in the interim, we have some reasons to preserve the money so that we can move on to establish whether it is proceeds of money laundering or not."
}