Strategy to Combat Money Laundering and Terrorism Financing Launched

Cambodia has introduced a national strategy to handle money laundering and terrorism financing to further enhance social stability and peace.

Titled Combating Money Laundering and Financing of Terrorism for 2019-2023, the national strategy was officially kick-started recently here in Phnom Penh.

H.E. Chea Chanto, Governor of the National Bank of Cambodia and Chairman of National Coordinating Committee on Anti-Money Laundering and Financing of Terrorism, and Mr. Clive Scott, Senior Adviser of the International Monetary Fund (IMF) co-chaired the launching of the document.

Addressing the function, H.E. Chea Chanto shared that the strategy entails ten key strategic action plans with specific timing and priorities.

To carry out the strategic document successfully, he underlined, concerned government ministries and institutions, as well as private sector and other stakeholders must work together.

The document emerged following the recommendation of an assessment done in 2017 in relation to money laundering and terrorism financing.

It proves another effort of the Royal Government of Cambodia in fighting the potential crimes threating Cambodia's social security and peace.

Source: Agency Kampuchea Press