Central Bank orders halt to unauthorized deposit scheme in Dambulla

The Central Bank of Sri Lanka (CBSL) has issued a directive against a Dambulla resident engaged in unauthorized deposit-taking operations, ordering an immediate cessation of the activities. The move forms part of the central bank's ongoing efforts to combat unlicensed financial schemes that operate outside the formal banking system.

Unauthorized deposit-taking schemes pose significant risks to the public, as depositors lack the protections afforded by regulated financial institutions and deposit insurance schemes. The CBSL has emphasized that only licensed commercial and specialized banks are permitted to accept deposits from the general public.

The central bank regularly issues public notices warning citizens against engaging with unlicensed operators offering investment or deposit schemes. Such activities are illegal under Sri Lankan banking regulations and can result in legal action against operators.

Members of the public are advised to transact only with licensed financial institutions registered with the CBSL. Anyone with information regarding unauthorized deposit-taking activities is encouraged to report such cases to the central bank's authorities for investigation.