Sri Lankans living abroad are increasingly using the Undial system to send money to Sri Lanka, Sri Lanka Mirror learns.
It is said that this method is now widely used by Sri Lankans living in Australia.
Instead of the official bank transfer or Western Union, the money is being smuggled by a group of money launderers secretly, without being detected by the Australian Federal Police, according to sources.
They obtain the dollars from the person who wants to send money to Sri Lanka and obtain as bank account number in Sri Lanka where they get a local agent to deposit the money in Sri Lanka through a cash deposit machine.
Therefore, this Undial system has gained immense popularity.
As a result, the amount of dollars Sri Lanka receives decreases, and economists point out that the smugglers here have the opportunity to launder their black money and thereby earn dollars.
Recipients of dollars from the country are careful to keep their identities secret and they don’t issue a receipt for the transactions