Cambodia’s anti-money laundering draft law was approved on May 15 at the Council of Ministers meeting chaired by Prime Minister Hun Sen.
The law is designed to assist authorities to fight money laundering and the financing of terrorism by identifying measures to “prevent, crackdown, and combat” such activities in Cambodia. After being passed by the cabinet, the law will be sent to the National Assembly for approval.
According to the government’s spokesperson Phay Siphan, the move came following the Asia Pacific Group on Money Laundering found that Cambodia does not have the appropriate legal basis and adequate enforcement mechanism related to penalties for money laundering and terrorism financing in line with international standards.
In full: https://en.vietnamplus.vn/cambodia-antimoney-laundering-draft-law-approved/173402.vnp
