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$ 625,000 payment to US Post goes missing | Daily FT
Cabinet Spokesman and Mass Media Minister Dr. Nalinda Jayatissa yesterday said investigations were underway into a $ 625,000 payment remitted from Sri Lanka to the United States Postal Service, after US authorities informed local officials that the funds had not been received. He made the remarks in response to questions from journalists on the reported diversion of $ 2.5 million in Treasury funds linked to an alleged cyber fraud. Addressing the postal matter, the Minister said the Criminal Investigation Department and the Department of Posts were conducting parallel investigations into the missing payment. He added that initial findings indicate the transactions had been carried out in two separate instalments. “Sri Lanka has made the payment, but the US Postal Service has informed us that it has not received the funds,” he said. The Minister said the investigations had commenced several weeks ago and noted that separate probes were also underway at the State level into other instances of alleged malpractice. “I cannot comment that if it is linked to this incident, but I can say that there is an ongoing investigation,” he added.
$ 625,000 payment to US Post goes missing - Sri Lanka Business News
$ 625,000 payment to US Post goes missing as Sri Lankan authorities launch investigations into a financial transaction that has failed to reach its intended recipient, raising fresh concerns over possible cyber fraud and public sector vulnerabilities. $ 625,000 payment to US Post goes missing amid fraud probe The issue came to light after United States authorities informed Sri Lankan officials that a payment amounting to $625,000, remitted to the United States Postal Service, had not been received. The development was confirmed by Cabinet Spokesman and Mass Media Minister Dr. Nalinda Jayatissa, who stated that multiple investigations are currently underway to trace the missing funds and determine the circumstances surrounding the transaction. According to the Minister, the payment in question had been processed from Sri Lanka as part of official financial dealings with the United States Postal Service. However, discrepancies emerged when confirmation was sought from the receiving end, prompting immediate concern among local authorities. The case has since been referred to the Criminal Investigation Department (CID) as well as the Department of Posts, both of which are conducting parallel inquiries. Preliminary findings suggest that the transaction was executed in two separate instalments, adding a layer of complexity to the investigation. Authorities are now working to establish whether the issue arose due to technical errors, procedural lapses, or deliberate interference. The possibility of cyber fraud has not been ruled out, particularly in light of broader concerns regarding financial security within state institutions. The missing payment is being examined alongside a larger and more significant case involving the alleged diversion of $2.5 million in Treasury funds. While officials have not confirmed a direct link between the two incidents, the timing has raised questions about systemic vulnerabilities in financial processes and oversight mechanisms. Minister Jayatissa acknowledged that separate state-level investigations are also ongoing into other reported instances of malpractice. $ 625,000 payment to US Post goes missing at a time when Sri Lanka is increasingly reliant on digital financial systems for cross-border transactions. This reliance underscores the importance of robust cybersecurity frameworks and stringent internal controls to safeguard public funds. Experts note that even isolated incidents can have wider implications, particularly...
USD 625,000 meant for US Postal Service goes missing
Cabinet Spokesman Minister Dr. Nalinda Jayatissa yesterday revealed that a USD 625,000 payment made by Sri Lanka's Department of Posts to the US Postal Service (USPS) had not been received by the intended party. The declaration was made at the post-Cabinet media briefing. According to the Minister, an investigation has been initiated into the incident. […]
Sri Lanka Investigates Missing US$625,000 Payment to US Post
Sri Lankan authorities have initiated an investigation into a missing payment of US$ 625,000 remitted by the Department of Posts to the United States Postal Service.
