The National Assembly of Cambodia on June 4 adopted two draft laws on anti-money laundering (AML) and counter-terrorist financing (CFT) and on combating the financing of weapons of mass destruction (WMD) proliferation.
Speaking at the assembly’s session, Cambodian Interior Minister Sar Kheng said the country became a member of the Asia Pacific Group (APG) on Money Laundering in 2004 and as its member, the kingdom is required to follow international standards on combating money laundering, terrorist financing and WMD proliferation financing.
According to the official, the draft law on AML and CFT is designed to combat money laundering and terrorist financing by identifying measures to control, prevent, crack down on and eliminate them. It also stipulates measures to freeze, restrain and seize assets in criminal proceedings, and to punish perpetrators.
