COLOMBO, May 27 -- Sri Lanka's banking sector has assured the public that the country's financial system remains stable, resilient, and secure despite several recent incidents of financial fraud and cyber-related crimes, stressing that customer deposits and the integrity of the banking system are not under threat.

In a statement issued on behalf of all licensed commercial banks, the Sri Lanka Banks' Association (SLBA) said the recent incidents were isolated in nature and did not reflect systemic weaknesses within the sector.

The Association acknowledged that the incidents had generated public concern, but said banks were well equipped to manage and mitigate such risks through strong regulatory oversight, institutional capital buffers, a...