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Banks (Finance)

Sri Lankan Banks Warn of Phishing Scams as Online Banking Users Targeted

Strategic Insights

— 2 min read

Sri Lankan banks have issued fresh warnings to customers about an increase in phishing scams targeting online banking users. According to notices released this week, scammers are sending links through emails and text messages that direct users to fake websites designed to steal personal and financial information. Authorities said the fraudulent sites often mimic official banking portals, using altered spellings or unusual characters to mislead customers. Users have been urged to avoid clicking on suspicious links and instead type official web addresses directly into their browsers.

Key Takeaways:

  • Several Sri Lankan banks have issued warnings to customers about an increase in phishing scams targeting online banking users.
  • Scammers are sending links through emails and text messages that direct users to fake websites designed to steal personal and financial information.
  • Authorities urge users to avoid clicking on suspicious links and type official web addresses directly into their browsers.
  • Banks have advised customers to double-check website URLs before entering sensitive details, such as login credentials, and to report any suspicious activity immediately.
  • The banking sector's Willingness to Lend Index grew in the second quarter of 2025, continuing a nine-quarter upward trend to reach a five-quarter high.
  • The Index, or willingness to lend, showed a slight dip in the third quarter, from 59.6 in Q2 to 41.4 in Q3 2025.
  • Loan demand was lifted by lower rates, wage growth, vehicle imports, and improved business activity in Q2 2025.
  • The number of rejected loan applications decreased in Q2 2025 compared to the previous quarter, possibly due to quality proposals and improved economic conditions.
  • Private sector credit rose by Rs. 221.5 billion in June, the highest monthly increase of 2025, lifting the outstanding stock above Rs. 8.85 trillion.
  • NPLs fell across corporates, SMEs, and State-owned enterprises in Q2 2025, though retail defaults rose slightly due to higher living costs.
  • Lending to SMEs remains constrained, despite Government-backed concessional loan pools and credit guarantees.

Statistics:

  • The Willingness to Lend Index reached 59.6 in Q2 2025, up from 57.3 in the previous quarter.
  • The Index value shows a dip from 59.6 in Q2 2025 to 41.4 in Q3 2025, lower than the previous three quarters and Q4 2024's Index value of 47.5.
  • Private sector credit rose by Rs. 221.5 billion in June 2025.
  • The outstanding stock of private sector credit exceeded Rs. 8.85 trillion.
  • NPLs fell across corporates, SMEs, and State-owned enterprises in Q2 2025.

Sources:

  • CBSL Credit Supply Survey: Trends in Q2 and Outlook for Q3 2025
  • Invest Sri Lanka Forum in Singapore (Lynear Wealth Managing Director Dr. Naveen Gunawardane)
  • SME forum (Deputy Industries and Entrepreneurship Development Minister Chathuranga Abeysinghe)

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