Britain to support Cambodia in fight against money laundering, terrorism financing

Britain embassy to Cambodia is partnering with Cambodian government ministries and departments to provide a training course on international best practices in the field of anti-money laundering and combating the financing of terrorism, according to the embassy’s press release on Friday. … The training will be provided by UK organisation GovRisk (The International Governance and Risk Institute), as part of a regional series of workshops, which also cover Malaysia, Indonesia and the Philippines, it said. … Global Money Laundering is estimated at 2-5 percent of total GDP, or 34-85 billion U.S. dollars, the press release said, adding that Cambodia is particularly vulnerable to this type of illicit activity due to its cash-based economy, the presence of an informal banking system, and porous borders which assist traffickers of drugs and people.