The National Assembly passed two legislations on Thursday to tackle money laundering, terror funding and the financing of weapons of mass destruction, a month after the European Commission added Cambodia as a “high-risk third country” for illicit money flows.
The assembly, composed exclusively of Cambodian People’s Party lawmakers, voted unanimously to pass both legislations without any amendments proposed during the session. The bills were passed by 119 lawmakers, in the absence of Prime Minister Hun Sen.
“For Cambodia, we had not fulfilled all conditions required by this organization [APGML]. Sometime our efforts were recognized while some other time we were considered deficient that our rating turned grey,” Sar Kheng told the parliament. “This is the problem.”