Recommendations to Improve the Legal Framework in Sri Lanka on Combating Involvement of Convertible Virtual Currencies in Narcotic Drugs and Psychotropic Substances Trafficking

Abstract

Trafficking of illicit drugs and psychotropic substances has become a contemporary issue in the world due to its abusive characteristics, health problems, and transnational crimes. Each state fights against illicit drug trafficking at different levels. Sri Lanka is a signatory party to the three primary international conventions on control of drugs, generally called the 1961,1971, and 1988 Conventions. Furthermore, Sri Lankan legal framework provides a control mechanism to combat illicit drug trafficking, which also extends to combat natural and synthetic drugs. Using developed technologies, modern-day drug traffickers deviate from traditional drug trafficking methods and are being used new technologies to conduct and make trafficking efficient. The scrutiny operates to find out the gaps in the Sri Lankan legal framework for combatting modern technology-based illicit drug trafficking trends in terms of Convertible Virtual Currencies (CVC). Also, the research paper identifies the gaps and makes suggestions to uplift the criminal justice system of Sri Lanka in combatting illicit drugs and their trafficking through CVC, which would be a severe problem in the near future due to high-tech drug trafficking. The sources used to conduct the research were mainly Internet sources and official reports issued by international legal enforcement authorities against illicit drug trafficking, domestic statutes, and books.