The Committee On Public Enterprises (COPE) reveals that financial frauds of 5 state enterprises is Rs.8,997,501,002.
The biggest financial fraud has been committed in Ceylon Petroleum Corporation (CPC) which is Rs.8,567,909,460. The frauds at State Plantation Corporation is Rs.231100000 and state owned Telecom is Rs.118,868,000. The financial fraud in Central Environmental Authority is Rs.49,623,542 and the fraud in Sri Lanka Social Security Board is Rs.3000000.
COPE, a parliamentary committee established to ensure the compliance of financial discipline in Public Corporations and other Semi Governmental bodies in which the Government has a financial stake investigated 47 state enterprises to make the report. However, no legal action has been taken regarding financial frauds COPE has revealed during the last 7 years.