The Cabinet has approved legal action against individuals using eZCash and mCash money transfer systems for transactions related to drug trafficking and organized crime.
Investigations have confirmed that these platforms are often used for anonymous financial transactions.
The Cabinet had earlier approved the establishment of a committee chaired by the Secretary to the Ministry of Public Security and Parliamentary Affairs to recommend measures to curb such activities.
The committee has now submitted its proposals, which include the creation of a unified database integrating the Central Bank of Sri Lanka, Sri Lanka Police and the Department of Registration of Persons.
The new system is believed to be helpful in preventing illegal activities, identifying offenders and taking legal action.