Cambodia Nearing Passage of AML, Anti-Terrorist Financing Law
Cambodia is close to adopting an anti-money laundering and anti-terrorism legislation to reduce domestic crime and terrorist financing, according to a June 1 report from the Hong Kong Trade Development Council. The legislation, which has received Cabinet approval and next…
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goes to the lower house of the legislature, before undergoing final review by the country’s Senate and its king, aims to bring Cambodia’s laws in line with international best practices, the report said. Cambodia’s money-laundering and terrorist financing controls have been called inadequate by the regional body Asia Pacific Group on Money Laundering and the Financial Action Task Force, of which Cambodia is a member, HKTDC said.