Cambodia uncovers 75 money laundering cases

Cambodia’s Interior Ministry has so far cracked down on 75 money laundering cases, seized about 8 million USD and confiscated nearly 3,000 vehicles, since the Financial Action Task Force (FATF) placed the country on its grey list a year ago.

In February last year, the global money-laundering watchdog placed Cambodia on a list of countries “highly vulnerable to money laundering” following reports showing its judicial system had high levels of corruption and it lacked the will to investigate financial crimes.

Cambodia has made minimal use of financial intelligence in investigating money laundering and terrorism financing, the FATF said in the report.

In full: https://en.vietnamplus.vn/cambodia-uncovers-75-money-laundering-cases/170299.vnp

© 2020, All rights reserved.