Sri Lanka, May 27 -- Sri Lanka's banking industry continues to be strong and resilient, with customer deposits fully protected despite recent cases of financial fraud and cyber-related activity.

Sri Lanka Banks' Association (SLBA) Chairperson Sanath Manatunge pointed out that the core stability of the sector and the safety of public funds are not compromised by these challenges. He mentioned that many social media posts regarding these incidents contain inaccurate or misleading information.

While recent occurrences like electronic fund transfer fraud bring up questions about digital security, they represent a minimal fraction of the system compared to the large institutional capital buffers that banks maintain. Consequently, these finan...