Logo of Phnom Penh Post newspaper Phnom Penh Post - Dirty cash

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.

MOST VIEWED

  • PM Hun Sen says dangers averted

    Delivering a campaign speech from his home via Facebook Live on Thursday, caretaker Prime Minister Hun Sen said his Cambodian People’s Party (CPP) had carried the country through danger in its latest mandate. He was specifically referring to the threat of a “colour revolution”

  • Bumpy road for local ride apps

    Ride-hailing services seem to have grown into a dominant player in the capital’s transportation sector. Relatively unknown and little used in the Kingdom at the beginning of this year, services like PassApp, Grab and ExNet are now commonplace on Phnom Penh streets. However, the

  • CNRP points to King in call for vote boycott

    Leaders of the former Cambodia National Rescue Party (CNRP) have taken a new tack in their call for a boycott of the national elections later this month. They are now claiming that the people should follow the King, who is expected to abide by tradition

  • Actress’s NGO takes heat for promoting the ruling party

    An actress’s NGO which participated in an election campaign event contrary to the Law on Association and Non-Governmental Organisations (Lango) has been slammed. Chorn Chanleakena, a celebrity and the president of the Association of Artists Volunteering to Help Society, allegedly led its members in