A group preaches the law on money laundering


Justice Department officials are hosting an online workshop to disseminate anti-money laundering laws on February 27. MINISTRY OF JUSTICE

A working group of the Ministry of Justice disseminates the content of the laws “Combating the financing of the proliferation of weapons of mass destruction” and “Combating money laundering and the financing of terrorism” to bring Cambodia into compliance with the conditions set out in the Asia-Pacific Group on Money Laundering (APG).

Chiv Song Hak – State Secretary of the Ministry and co-chairman of the ad hoc sub-committee in charge of implementing the CPA action plan – chaired the workshop which was held from February 24 to 26 and was attended by participated 100 relevant officials from the Ministry of Foreign Affairs and International Cooperation; Department of Commerce; and representatives from the Non-Banking Financial Services Authority (NBFSA), the Commercial Gambling Regulatory Commission and the National Police Central Security Department.

Song Hak told the Post on Feb. 27 that his task force is responsible for implementing the activities related to disseminating the content of the law to people who are not reporting entities as determined by the laws.

“The dissemination of these two laws targets guardianship institutions such as the Commercial Gaming Control Commission, which has the power to control the operations of commercial gaming companies in Cambodia. Thus, our first training sessions are intended for supervisors to continue to train on the application of laws to reporting entities under their supervision,” he said.

According to Song Hak, the training must fulfill the conditions set by the APG which obliges Cambodia to disseminate information about the laws to law enforcement officials and provide training to the private sector operating in the Kingdom.

“We will train all relevant entities to make the laws known to the private sector,” he said, adding that on February 28, the task force will hold another workshop with other government entities that do not. have not yet participated.

Justice Ministry spokesman Chin Malin said the dissemination of the laws relied on three mechanisms. This is done on the one hand by training on the two laws and on the other hand by strengthening the capacities and human resources of the institutions in charge of preventing the financing of the proliferation of weapons of mass destruction, as well as the fight against money laundering and the financing of terrorism.

The third objective, he said, is law enforcement focusing on enforcement actions taken by the judicial police, competent authorities and courts.

He noted that the subcommittee’s working group tasked with implementing the APG’s action plan is led by Justice Minister Koeut Rith, who he said has worked hard to expedite enhanced enforcement. anti-money laundering laws to improve Cambodia’s situation. rating in this area when evaluated by international bodies and agencies in other countries.

Malin said the APG will hold an assembly and make an assessment on the status of Cambodia at that time. The Kingdom is currently on the Financial Action Task Force (FATF) gray list and improvement in this area would bring additional investment and other benefits while discouraging the presence of internationally organized criminal activity in Cambodia, said he declared.

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