The Cambodian Senate has approved the draft Law on Anti-Money Laundering and Combatting the Financing of Terrorism following its adoption by the National Assembly earlier this month.
The Senate said the draft law would prevent the misuse or exploitation of the financial market and help authorities identify measures to prevent and combat money laundering and terrorist financing.
Cambodian People’s Party (CPP) senator Chea Cheth said the draft law, comprising nine chapters and 47 articles, will fulfil the deficiencies in the existing law, which was adopted by the NA in April 2017 and ratified by the Senate in May the same year.
