Logo of Phnom Penh Post newspaper Phnom Penh Post - Bounced cheques scams raise concern

Bounced cheques scams raise concern

Bounced cheques scams raise concern

Military police in Siem Reap province arrested a 33-year-old woman this week on accusations of fraudulent activity involving writing a cheque at a local bank.

Cheque account usage, an infrequently used service only a few years ago, is gaining traction in the Kingdom. Bank officials said frauduent cheques are not a concern at present, but local police in Siem Reap claimed such incidents are increasingly common.

Soum Bou Thean, an employee at an internet shop in the northern city, was detained by police after a cheque she signed for US$13,000 bounced at a local bank, police said.

The case has attracted the attention of officials in Siem Reap due to increases in such incidents, Ty Soveinthal, a prosecutor at Siem Reap Provincial Court, said yesterday.

“We are still investigating this case,” he said. “We have met many cases that are similar to this, so we need time to investigate it deeply.” Cheques and credit spending still compose only a fraction of the sector.

Cheque writing is on the rise, said Nguon Sokha, director general and spokeswoman at the National Bank of Cambodia (NBC). The central bank, however, has not seen reports on fraud cases, she said.

As new products are developed in the sector, the NBC’s regulatory team have stepped up security measures.

“We have a bank supervison department that goes on site to observe banks. And banks are making a strong effort to follow regulations,” she said.

While the NBC’s clearing house has not seen reports of fraudulent activity, there are cases of cheques not clearing due to insuficient funding, the clearing house vice chairman Ly Thai said yesterday.

“We need time to educate people on how to use cheques because there is an increasing amount of people using them,” he said.

To contact the reporters on this story: Thik Kaliyann at [email protected]
Don Weinland at [email protected]

MOST VIEWED

  • Tourists urged not to skip trip

    The Ministry of Tourism has called on international tourists not to cancel trips to Cambodia, but urged them to adhere to several dos and don’ts when arriving in the Kingdom during the Covid-19 pandemic. The ministry released an eight-point instruction manual on Wednesday published

  • The taxman cometh – Cambodia’s capital gains tax casts the net on individual taxpayers

    In a country where only limited personal income tax existed, the new taxation law beginning January 1, 2021, will make taxpayers out of Cambodians, whether they are ready for it or not About two years ago, a little known amendment was made to Article 7 of the Law

  • Cambodian-American gets Star Trek treatment

    Kevin Ung, a Cambodian-American whose family escaped genocide during the Khmer Rouge’s reign of terror, was recently selected from thousands of applicants to participate in the Television Academy Foundation’s inaugural 2020 Star Trek Command Training Programme, a course intended to give hands-on filmmaking experience

  • Cambodia seeks to be transport hub

    Cambodia is working on several fronts to modernise its transport infrastructure and services, concentrating on opening new international gates to relieve and balance traffic congestion at its borders, Minister of Public Works and Transport Sun Chanthol said on Thursday. This is part of the Kingdom’

  • PM: West unfair to Cambodia

    Prime Minister Hun Sen released a message celebrating the International Day of Peace on Monday, saying that some major powers and western countries had been systemically cooperating to put political pressure on Cambodia as they did in the 1970s and 1980s. Hun Sen said pressuring

  • First ‘mobile kitchen’ in Cambodia enters service

    A catering company recently rolled out Cambodia’s first “mobile kitchen” – a $50,000 container capable of serving up to 200 people at a time. The kitchen is the brainchild of Seng Hok Heng Catering Services. At 4.4m-high, 6.8m-long and 2.4m-wide (expandable to 6.8m), the kitchen is equipped