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Global watchdog to put Cambodia on its money-laundering watchlist

A global money-laundering watchdog, the Financial Action Task Force (FATF), will place Cambodia on its watchlist on Friday because of concern it is highly vulnerable to money laundering, a high-level official with knowledge of the issue said.

The placing of Cambodia on the FATF’s “grey list”, to be announced in Paris, will likely curtail international financial, investment and trade flows to and from the Southeast Asian country.

The FATF is an inter-governmental organization that underpins the fight against money laundering and terrorist financing.

A spokesman for Cambodia’s Ministry of Economy and Finance said he could not comment on the FATF issue and referred questions to the National Bank of Cambodia, which did not immediately respond to an email request for comment.

Continue reading here https://www.reuters.com/article/us-cambodia-moneylaundering/global-watchdog-to-put-cambodia-on-its-money-laundering-watchlist-idUSKCN1QB0N0?il=0

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