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Money laundering fight stepped up

Sen David / Khmer Times No Comments Share:
ACU chief Om Yentieng, second left, launched the anti-money laundering campaign. KT/Chor Sokunthea

The Anti-Corruption Unit is to launch a 15-month campaign against money laundering to keep Cambodia off an international blacklist.

The ACU held a workshop yesterday on ways to fight money laundering with 48 of its own officials, along with police and court officials.

The three-day workshop, backed by the World Bank, trained officials in anti-money laundering techniques.

It gave participants an overview of international and national laws, stages of money laundering, money laundering techniques, anti-money laundering measures, investigation competence, national and international cooperation and asset recovery.

Officials take part in a workshop yesterday. KT/Chor Sokunthea

ACU chairman Om Yentieng said there was a great need for Cambodia to combat money laundering.

He said there were three levels of money laundering into which countries fell, categorised by the Asia Pacific Group on Money Laundering.

The white list means a country was easy to work with for the rest of the world.

Being on the green list means having some difficulty working with the world. Countries on the black list were very difficult to work with.

Cambodia is on the green list, which is why the ACU launched the campaign this month.

“We must combat all illegal activity such as logging, drugs and corruption,” Mr Yentieng said.

Mr Yentieng said Cambodia would try to show the world it was trying to combat money laundering.

He said the Asia Pacific Group on Money Laundering had created a working group to examine the situation in Cambodia and had asked the country to submit a report every three months.

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