A 19-year-old was arrested yesterday (19) by the Criminal Investigation Department (CID) under the provisions of the Prevention of Money Laundering Act following a raid conducted within the Dam Street Police Division.

The raid was carried out by officers attached to the CID’s Homicide and Organised Crime Investigation Division based on information received regarding an individual allegedly involved in illegal money transactions through the ‘Undiyal’ system.

During the investigation, the suspect was unable to provide satisfactory evidence to establish the legitimate source of Rs 10.467 million found in connection with the investigation, according to the Police.

A counterfeit Rs 1,000 note was also reportedly found in the suspect’s possession.

The suspect is a resident of Colombo 5.

Further investigations are being conducted by the CID.