The Central Bank of Sri Lanka has commenced special inquiries on another twenty illegal financial institutes currently running in the country.

The Sri Lankan froze the assets of TRO in August 2006 under the Financial Transactions Reporting Act and the Convention on the Suppression of Terrorist Financing Act.

The government charged that the money received by TRO from various donors for "humanitarian projects" were, according to intelligence reports, mainly used to finance terrorist activities.

The Central Bank warns the general public not to get involved in any kind of financial donations or transactions with this organization.

Investigations are in progress to trace and forfeit any further funds and assets belonging to the TRO.

Any involvement including any financial connection with a proscribed organization is a criminal offence, the Central Bank announced.

The United States Department of the Treasury designated the TRO as a terror supporting network in November 2007 and froze all assets held by the TRO and its designees in U.S. territories, and formally prohibited U.S. citizens from transacting with the TRO or its members.

In 2005 the British Charity Commission revoked the TRO's "charitable status" saying that it wasn't able to satisfactorily account for the application of its funds.

Meanwhile the Central Bank attending to the regular complaints lodged by the public regarding bogus financial institutions has commenced special inquiries on another twenty illegal financial outfits currently operating in the country.

A special team has been appointed by the Bank to investigate the complaints.

Meanwhile the Central Bank had suspended activities of another fraudulent financial company few days ago, the 28th such outfit banned within the last two months following the Sakwithi Ranasinghe scam, reports said.