Logo of Phnom Penh Post newspaper Phnom Penh Post - Money laundering law

Money laundering law

Money laundering law

C

ambodian lawmakers have approved legislation

to combat money laundering amid fears that the banking sector could be used to

fund terror groups, local media reported. The new law was also designed to

attract more foreign investors to the country who in the past have been wary of

the kingdom's reputation for lawlessness and corruption. The legislation aims to

tighten bank reporting procedures and staff accountability.

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