Money launderer’s dream
Cambodia’s anti-money laundering agency is unable to investigate or penalise financial institutions that break the law, leaving the country open to exploitation by organised crime, according to a senior official in the unit.
The Financial Action Task Force (FATF) – the top international anti-money laundering and counterterrorism financing body – ceased its monitoring of Cambodia in February, even though the Financial Intelligence Unit (CAFIU), the state agency tasked with investigating and prosecuting financial crimes, was so under-staffed and under-resourced it had not investigated a single financial institution since its founding in 2008. …
Daniel Pye
http://www.phnompenhpost.com/national/money-launderers-dream
