#30B, Street 652​, Sangkat Tek La-Ak III, Khan Tuol Kork, Phnom Penh, Kingdom of Cambodia.

Tel : +855 23 882 676, Email: info@cma-network.org

Workshop on “AML/CFT in Cambodia and STR Reporting Mechanism”

Location: Tonel Basak II Phnom Penh
Date: In the Last week of 31 July 2015 

 Organized by: CMA and NBC
There were 61 Participants from CMA's members as MFIs and Rural Credit Operators.

An AML/CFT system has been developed with the purpose of stopping criminals benefiting from the proceeds of crime and terrorist financing, and thereby prevent a further strengthening of criminals and their organizations from committing even more devastating criminal acts. Cambodia has been affected to be used by criminal as transit route for drug trafficking from the Golden Triangle to international drug markets. Cambodia is a cash-based and dollarized economy with an active informal banking system.
Money laundering, most often defined as a comprehensive and complex process of concealment of proceeds from criminal activities, and financing of terrorism, which refers to the processing of funds to sponsor or facilitate terrorist activity whether intentionally or unintentionally, are recognized as global threats that have detrimental effects both to the economy and democracy.
Cambodia is facing many new trends in criminal activities which include illicit drug trafficking, human trafficking and smuggling, corruption, money laundering, international economic crime and cyber crime. In addition, new payment and communications technologies are opening up the world to trans-national organized crime and creating opportunities for illicit cross-border funds transfers. These trends are challenging the future social and economic development of all nations and create the need for cooperation to tackle organized crime for ensuring a more secure world.
Cross border fund transfers can be channeled in different way by the criminal, one of which, is channeling through banking institutions. Some criminals may transfer their fund to some companies in the form of investment and co-mingle those funds as the company profit. The money is clean and channeled to different places.
To overcome the above issues, Law on AML/CFT that promulgated on 24 June 2007 and its amendment provides a stronger foundation for building an efficient AML/CFT regime and Prakas on AML/CFT which promulgated on 30 May 2008 has also been served as guidance for all banking institutions to strengthen their implementation. In addition, another sub-decree on Freezing Property of Designated Terrorists and Organizations promulgated on 10 March 2014 established mechanism and procedures for freezing properties and funds of terrorist and organizations according to the UN Security Council resolution in order to prevent and suppress terrorist activities and the financing of terrorism.

Moreover, active steps are being taken to develop an effective AML/CFT system and to ensure that all stakeholders, including government agencies, public organization and the private sectors, specifically the banking sector are well aware of their AML/CFT obligations, especially STR Reporting Mechanism.


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