Global demand for shark products has contributed to increased levels of illegal shark fishing, posing a significant threat to marine ecosystem health and the sustainability of related livelihoods. Despite increased management and policy attention, including bans on shark finning and harvesting of certain species, compliance is not universal, and unsustainable practices persist. In this study, we focus on illegal shark fishing by Sri Lanka’s semi-industrial fleet, aiming to explore fishers’ awareness, perceptions of, and compliance with measures introduced to curb unsustainable shark fishing. During January–June 2023, 254 questionnaire-based interviews and six focus group discussions were conducted at three harbours associated with previous illegal shark landings to explore awareness of regulations and potential drivers of non-compliance. Our findings suggest that only 9% of respondents were aware of all banned shark species, 12% landed banned sharks that were caught incidentally and 47% reported that illegal shark landings occur. Thematic analysis identified key drivers of non-compliance, including the economic importance of sharks, reluctance to discard sharks, lack of awareness of regulations and perceived corruption amongst management authorities. These findings underscore the need to incorporate human dimensions into policymaking and fisheries management to address the global issue of illegal shark fishing effectively. Additionally, we identify that local support is critical for the success and sustainability of shark conservation and management efforts.