Cambodian gov’t approves draft laws against money laundering, WMD financing

Cambodia is launching a distributed ledger technology network for the country's payment system and cutting down the use of the US dollar.

The Cambodian government on Friday approved 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, government spokesman Phay Siphan told Xinhua on Saturday.

The approval was made during a weekly Cabinet meeting, which was presided over by Prime Minister Samdech Techo Hun Sen, he said.

“This draft bill on AML and CFT is designed to combat money laundering and terrorist financing, and it states measures to control, prevent, suppress and eliminate money laundering and terrorist financing,” he said.

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