Sri Lanka, Oct. 1 -- The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) has identified around 34,000 individuals who could face penalties for submitting asset declarations late, Director General Ranga Dissanayake told the Committee on Public Finance (COPF).

The disclosure was made during a discussion on CIABOC's financial requirements and funding. Responding to questions from COPF Chairman Dr. Harsha de Silva, Dissanayake said there were currently no funds available in the relevant fund, although additional funds were expected to be received.

Dr. de Silva suggested that the Commission consider imposing higher fines where permitted, noting that the resulting revenue could help meet some of its financial requireme...