SLC goes to FCID

Alleged attempt at multi-million dollar fraud thwarted, SLC says

An alleged attempt to fraudulently redirect US$ 5.5 million, due to Sri Lanka Cricket (SLC) from an international media network, in to an offshore account was thwarted and a complaint lodged with the Financial Crimes Investigation Division, SLC said yesterday.

SLC had discovered the alleged attempt before it was executed, an SLC statement read, and it was believed to involve an employee of its finance department.

The statement also said that SLC would conduct an internal audit inquiry into all financial transactions of the past year, following this incident.

“Sri Lanka Cricket (SLC) … was able to successfully avoid a fraudulent attempt to transfer US$ 5.5 million of SLC’S Media Rights Sponsorship funds, which was due from an International Media Network, to an offshore account,” it read.

“The fraudulent act was found, before it was executed through bogus means.”

“Immediately upon finding of the attempted fraud, Sri Lanka Cricket’s CEO Mr. Ashley De Silva lodged a complaint to the Financial Crimes Investigation Division under the direction of the Minister of Sports Honorable Faiszer Musthapa this afternoon (10th September 2018) to probe the attempted fraud,” the statement also said.

“Sri Lanka Cricket wish to state here, while accepting that an act of this nature is highly damaging for an organization of international repute such as SLC, we are happy to note that due to the internal due diligence process of the SLC, we were able to avoid the fraud,’’ the statement, quoting De Silva, also read.

While the statement didn’t specify the network involved and the individual allegedly responsible for the attempted fraudulent transaction, it is likely that it is the payment due to SLC as part of its television rights deal with Sony Pictures Network.

In the meantime, SLC under the instructions of the CEO, have decided to launch an audit inquiry into all the financial transactions, conducted during the past one year period.