Sri Lanka cabinet approves IMF-backed civil forfeiture law allowing government to seize proceeds from illegal activity

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Sri Lanka cabinet approves IMF-backed civil forfeiture law allowing government to seize proceeds from illegal activity

Sri Lanka’s Cabinet of Ministers on Friday approved a new legislative bill, endorsed by the International Monetary Fund (IMF) that will allow the state to confiscate any property or proceeds resulting from criminal activities, a spokesperson for the cabinet told local media.  Under the new law, known as the Proceeds of Crime Act (POCA), the government will be entitled to freeze and/or confiscate any assets they suspect are the proceeds of crimin…