It is more than a year that the Financial Action Task Force added the Kingdom to its list of countries vulnerable to money laundering due to its weak system of investigating financial crimes and minimal use of financial intelligence in investigating money laundering and terrorism financing. In response to the situations, Cambodian authorities have strengthened war against money laundering and have recorded a total of 75 cases of money-laundering and 15 were sent to the court; and 10 offenders from these were charged by prosecutors under the Law on Anti-Money Laundering and Combating the financing of terrorism.
Also, according to the report, the authorities seized a total of $7,786,179 and about $24,000 in riel from suspects. Other items seized include three houses, a plot of land and 2,725 vehicles. And Gen Sopheak has noted that a minimum of 3 major money laundering cases was cracked down since February last year. They involve Chinese nationals who brought in more than $3.5 million money to Cambodia through Hong Kong; another Chinese man was arrested at Phnom Penh International Airport suspected of importing illegal money of up to $1 million in May. Also, in July, Siem Reap detained two South Koreans for bringing in $2.2 million through the airport. The General said Kingdom has not recorded any major money laundering case so far this year. The executive director of the Affiliated Network for Social Accountability has commended the government effort in fighting money laundering but also noted that corruption is also a significant factor disrupting the efforts to combat money laundering; therefore, the government needs to have long-term enforcement against the crime.
