Officials uncover “large-scale financial fraud” in Pensions Department

Officials uncover “large-scale financial fraud” in Pensions Department

Written by Staff Writer

22 Jul, 2014 | 9:48 pm

The director general of the Pensions Department claims that large-scale financial fraud has taken place within his department.

Sunil Hettiarachchi says the fraud has been uncovered and that investigations are underway.

He notes that there are 538,000 members of the Pensions Department at present, adding that about 4,000 other institutions liaise with his department in making out pension payments to these members.

“The internal workings of the Pensions Department are a complex system. Various incidents of fraud and misuse of funds occurs within this system. Recently we were fortunate enough to uncover such fraud.”

He added: “We were able to uncover that a massive sum of money had been misused, meaning that these funds had not gone to the hands of the pensioners but to other persons instead. In most instances such misuse occurs on the part of public officials.”

The director general of the Pensions Department added that his department is in the process of employing modern technology to mitigate such incidents.

Latest News

Are you interested in advertising on our website or video channel
Please contact us at [email protected]