Cambodia’s casino sector still represents a risk for the country in terms of money-laundering prevention and combatting the financing of terrorism. That is according to the Financial Action Task Force (FATF), a global financial watchdog based in Paris, France.
The FATF said in an announcement last month that Cambodia remained on the watchdog’s list of jurisdictions with “strategic anti money laundering [AML] and combatting the financing of terrorism [CFT] deficiencies”. The body however noted that the nation – since a meeting in February with FATF officials – had “taken steps towards improving its AML/CFT regime, including by initiating off-site and on-site supervision of the real estate and casino sectors.”
The latest document by FATF indicated that Cambodia “should continue to work on implementing its action plan to address its strategic deficiencies”, including those linked to the country’s casino industry.