PhnomPenhPost-Mar 15, 2022
The National Committee to Combat Money Laundering and the Financing of Terrorism and Proliferation of Weapons of Mass Destruction has instructed all units acting as judicial authorities to set up standard operating procedures and cooperate with relevant institutions in their investigations. The four-page set of instructions was issued on March 14 and signed by Minister of Interior Sar Kheng, who is also the chairman of the committee. Sar Kheng said Cambodia – which is a member of the Asia/Pacific Group on Money Laundering (AGP) – has enforced the conditions set by the APG and the recommendations given by the Financial Action Task Force (FATF), including those related to the investigation and prosecution of money laundering cases. The FATF – an intergovernmental body formed to combat money laundering in July, 1989, at the G7 summit – maintains a “grey list” of countries whose enforcement efforts are considered subpar as well as a “black list” of countries that are found to be actively abetting money laundering or inhibiting investigations. Cambodia is beefing up its anti-money laundering campaign and enforcing the newly promulgated relevant laws and legal standards ahead of the FATF evaluation, with the Kingdom expecting that it will be removed from the “grey list” of countries with sub-par efforts at preventing money laundering. Read more at: https://www.phnompenhpost.com/national/kingdoms-efforts-prevent-money-laundering-stepped-grey-list-exit
