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Dirty cash

Dirty cash

A prakas was issued on October 21 to combat money laundering in Cambodia. The

decree requires all banks to monitor and record transactions greater than 40m

riel (around $10,000). Any suspicious transactions must be reported immediately

to the National Bank of Cambodia. Among the other measures: it is forbidden to

tip off a client that such a report has been made; opening anonymous accounts is

banned; and any company bank accounts must have shareholders identified. Source:

DFDL Law Update.

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