Philippines, Cambodia still on international AML grey list

The Philippines and Cambodia remain on a list of nations under increased monitoring by the Financial Action Task Force (FATF), also known as the “grey list”, for deficiencies in their efforts to counter money laundering, terrorist financing, and proliferation financing.

In a Friday statement, the FATF said Cambodia had “failed to complete its action plan, which fully expired in January 2021.”

As such, “The FATF strongly urges Cambodia to swiftly demonstrate significant progress in completing its action plan by June 2022 or the FATF will consider next steps, which could include calling on its members and urging all jurisdictions to apply enhanced due diligence to business relations and transactions with Cambodia.”

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