Demand a Stop to the Closure of Remittance Industry Accounts in Australia

In correspondence with BANK OF CEYLON SRI LANKA.

As a Serendib customer, you must be aware of our frequent changes in bank details, an action which we have taken multiple times to continue to provide our services to you. 

However, it continues to hinder us from operating. Claiming that the remittance industry is a high-risk factor for the banks, consequently resulting in increased monitoring costs for them, it is coming to a point where they simply do not want to provide us with bank accounts to remit money to Sri Lanka. We do not know if it is racial discrimination or a combination of factors that has led to their choices. 

As a CPA qualified accountant and responsible compliance officer, I have used all my knowledge to comply with all the anti-money laundering and counter-terrorism rules and regulations governed by AUSTRAC. Despite these countless measures, the banks are trying to shut down the remittance industry and claim it for themselves. 

During this pandemic, we have many customers who are living here in Australia and remitting money to their loved ones in Sri Lanka so they can survive another day. Without your help, we will not be able to continue and provide you with these valuable services.

As Director of Serendib, I kindly ask you to sign this petition in hopes of showing the banks the importance of the services that we provide to our community. This is a time where we need you. 

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