Original report from Phnom Penh
07 January 2009
A senior official of the national bank denied on Wednesday that Cambodia’s banking laws have made the country an easy target for money laundering.
“We have taken strong actions to strengthen the Cambodian banking law to fight against money laundering and terrorism funding,” Tal Nay Im, director general of the National Bank of Cambodia said. “Each bank in Cambodia must respect the law, and if any bank is involved in money laundering or terrorism funding, it will face defamation and lose cooperation from international banks.”
The International Bar Association, a 60-year-old organization of more than 30,000 lawyers and 195 bar associations, has said Cambodia needs to improve its laws to prevent money laundering.
“We have taken strong actions to strengthen the Cambodian banking law to fight against money laundering and terrorism funding,” Tal Nay Im, director general of the National Bank of Cambodia said. “Each bank in Cambodia must respect the law, and if any bank is involved in money laundering or terrorism funding, it will face defamation and lose cooperation from international banks.”
The International Bar Association, a 60-year-old organization of more than 30,000 lawyers and 195 bar associations, has said Cambodia needs to improve its laws to prevent money laundering.
4 comments:
We will ban soa in the bank, may be washing machine should not alow to bring into the kingdom so no one can laudry the money in Cambodia?
DO I smart, I have PhD from Hanoi and my name is HUN XEN! my teacher say so better than my parents!
HUN XEN
... and the casinos ?
yeah right, why should banks launder money when it's much easier to "deposit" or "withdraw" funds at the casinos?
BECAUSE IN CASINO PEOPLE DRESS CLEAN THE MONEY IS NOT DIRTY!
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