KhmerTimes-May 13, 2024
Cambodia’s Interior Ministry calls into doubt a report from Transparency International Australia and its partner KordaMentha alleging that Cambodia is a source of money laundering in Australia. Touch Sokhak, spokesman of Ministry of Interior, said yesterday, “The release of this report without clear evidence will damage the reputation of Australia and Cambodia, and we do not know the true intentions of the researchers”. Sokhak’s remarks came after Transparency International Australia (TIA) in partnership with KordaMentha, an advisory and investment firm, reported last Monday that in 2022 at least $516 million was moved to Australia from Cambodia according to reporting entities. Also, the TIA report claims between 2019 and 2023, “118 properties were settled in Australia by Cambodian foreign persons with a combined value of $110 million”. The report notes that the largest amount of cash involved with money laundering often takes the form of real estate investments and other legitimate financial transactions. Sokhak said that if Australian civil society organizations are willing to cooperate with Cambodia, then they should seek both legal and diplomatic cooperation to demonstrate the facts with clear evidence and documentary proof. “Cambodian authorities reserve the right to reject any report that seeks to tarnish the image of the nation… through unsubstantiated allegations and politically motivated agendas,” he said. However, he noted that the report can also provide a basis to conduct research and investigations to analyze the accuracy of its data according to the expertise of the Cambodian authorities. Read more at: https://www.khmertimeskh.com/501487262/ministry-questions-tia-report-on-money-laundering-risks/
