The GKCCC scandal and its repercussions had a profound impact on Sri Lanka's financial sector, resulting in significant regulatory reforms and heightened industry oversight.
The company's groundwork included setting up the initial merchant network, which later served as the blueprint for other credit card operators in the country.
The indictment specifically accused GKCCC and its board members of conspiring to misappropriate funds, including deposits totaling Rs.
In a Supreme Court order dated March 23, 2009, it was revealed that the head of the Special Investigations Unit (S.I.U) of the Central Bank had raised concerns about GKCCC's financial operations.
The GKCCC scandal sent shockwaves through Sri Lanka's financial sector and prompted substantial regulatory reforms, reflecting the need for increased scrutiny and oversight in the industry.