Cambodia ‘ripe’ for money laundering
Cambodia is ripe for money-laundering and terrorist financing activities due to rampant corruption, banking-sector secrecy and an overall lack of financial transparency, a governance institute says in a report released this week. The Switzerland-based Basel Institute on Governance has ranked Cambodia the third “highest-risk” country out of 144 listed for its failure to comply with anti-money laundering and counter-terrorism financing standards. Cambodia’s ranking is based on standards and other “risk categories such as financial regulations, public transparency, corruption and rule of law”, according to the report’s authors. …
