Sri Lanka, Aug. 19 -- A 19-year-old man has been arrested by the Criminal Investigation Department (CID) under the provisions of the Money Laundering Act following the seizure of more than Rs. 10.4 million in cash during a raid in the Dam Street Police Division.

Police said the arrest was made yesterday evening by officers attached to the CID's Homicide and Organized Crime Investigation Division, acting on information received regarding suspected illegal financial transactions conducted through the "Undiyal" system.

During the operation, investigators recovered Rs. 10,467,000 in cash. Police said the suspect was unable to provide a satisfactory explanation or establish a legitimate source for the money.

A counterfeit Rs. 1,000 currenc...