The arrests came in a series of raids following a visit to Colombo by a team of Chinese officials.
The 74 men and 26 women were nabbed from Colombo and immediate suburbs yesterday, police spokesman Prishantha Jayakodi said.
"They have got people in China to transfer money to their (those arrested) accounts in Sri Lanka," Jayakodi said.
Figures of the money transferred so far were not immediately available.
The arrested persons are set to be produced in court.
