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Incident Timeline & Actions
Key stages of the Treasury cyber-heist investigation and legal proceedings
Primary Sources
Expert committee to conduct probe into Treasury heist
News View(s): By Ranjith Padmasiri The Colombo Fort Magistrate’s Court has given permission to appoint an expert committee comprising representatives of all relevant agencies to conduct a comprehensive probe into the USD 2.5 million Treasury cyber-heist. Acting on a request from the Criminal Investigation Department (CID), Colombo Fort Magistrate Isuru Neththikumara ordered that the expert committee should comprise the Sri Lanka Computer Emergency Readiness Team (SL-CERT), the Dean of the Colombo University’s School of Computing and the Government Analyst’s Department. The Computer Crime Investigation Division of the CID reported the incident to court for the first time this week, detailing that they commenced investigations following a complaint lodged on March 24. The CID also told court that the payments had gone through in line with fraudulent payment instructions received via e-mail despite the Treasury being warned of there being the possibility of a cyber-theft. It added that investigations are ongoing to determine whether funds had gone missing during other payments. Based on investigations conducted thus far, the CID informed court that it has been revealed that a total of USD 2.5 million had been diverted to another bank account despite warnings being made regarding the matter. They added that 5 Treasury officials who had access to the allegedly compromised email account had been directly involved in transferring the funds. After considering the facts provided by the CID, the magistrate imposed an overseas travel ban on the 5 Treasury officials, who have also been interdicted over the incident. The magistrate further ordered that his order be conveyed to the Controller General of Immigration and Emigration. He also ordered the heads of banks where the 5 Treasury officials had maintained accounts to provide details of these bank accounts to the CID. The magistrate ordered the CID to conduct a comprehensive inquiry into whether there had been any criminal intent in the transfer of the funds and to identify those responsible. He also ordered the CID to take steps to ensure that such crimes do not reoccur. The CID informed court that the Australian government had approved loans for 5 projects being undertaken in Sri Lanka, and that the loan payments had been provided through the Treasury’s Department of External Resources. The Treasury had subsequently commenced repaying these loans to Export Finance Australia under Sri Lanka’s debt restructuring pro...
Treasury Heist: Govt Tried to Frame Private Firms? -
Treasury heist row deepens as Free Lawyers allege govt plans to shift blame to private firms, raising concerns over transparency and accountability. The Treasury heist row has taken a dramatic turn after the Free Lawyers organization alleged that the government is preparing to shift blame for the Rs. 2.5 million financial irregularity onto two private companies with no state ties. Speaking at a media briefing, former Governor Rajitha Keerthi Tennakoon claimed that the government is attempting to frame the incident as a “hacker” attack. He argued instead that the breach occurred due to an internal information leak within the Treasury and the Central Bank. Follow The Morning Telegraph WhatsApp Channel Get breaking updates, instant alerts, and exclusives. Join Now Tennakoon stated that he has already sought clarification from the Chairman of the Parliamentary Committee on Public Finance, MP Harsha de Silva, raising 15 key points related to the transaction and its handling. The controversy has intensified with claims that the Secretary to the Ministry of Finance, Harshana Suriyapperuma, has repeatedly avoided appearing before the Committee on Public Finance. According to Tennakoon, critical information continues to be withheld, raising further concerns about transparency. He called for the immediate resignation of the Secretary, stating that such a step is necessary to ensure a fair and impartial investigation. He also urged the Committee on Public Finance to recommend to the President that action be taken if the Secretary fails to step down. However, questions remain about the systemic failures that may have allowed the incident to occur. Tennakoon pointed out that if the Debt Servicing Committee had been properly established under Section 8 of the Debt Management Act No. 33 of 2024, there could have been an opportunity to prevent what he described as a “great heist.” He further alleged that authorities have failed in their responsibility to present transparent reports on government debt, repayments, and interest obligations. This raises concerns about the overall integrity of financial reporting mechanisms within key institutions. Tennakoon also criticized the approach taken by oversight bodies, stating that by treating the Central Bank and the Treasury as institutions beyond reproach, the Committee on Public Finance has not been able to fully exercise its statutory powers. What happens next could be critical. With mounting allegations and calls fo...
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