EU Lists Cambodia Among ‘High-Risk’ Nations for Money Laundering

The E.U. has listed Cambodia as one of 12 “high-risk” countries with deficient anti-money laundering and counter-terrorism financing efforts, but the government on Friday said officials were working hard to get the nation off international watch lists.

The European Commission on Thursday adopted a new list of countries with “strategic deficiencies” in their anti-money laundering and counter-terrorism financing regimes. The commission said its list was now “better aligned” with those from the Financial Action Task Force (FATF), an inter-governmental money-laundering watchdog.

Cambodia was put back on the FATF’s “grey list” in February 2019 for being deemed deficient in preventing illegal money flows both into and out of the country. The listing can create difficulties for Cambodians in accessing the international financial system.

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