Cambodia has been removed from the global money-laundering and terrorist-funding watchdog’s “grey list” after working to reduce money laundering, terrorism financing, and proliferation financing in the country.
The FATF made the announcement on February 24 during its annual meeting in Paris. Morocco was also taken off the Grey List.
According to the meeting report posted on the FATF website, Cambodia has made significant progress in improving its anti-money laundering/counter-terrorism financing (AML/CFT) measures and increasing their effectiveness in order to meet the commitments in its action plan regarding the strategic deficiencies identified by the FATF in February 2019.
“As a result, Cambodia is no longer subject to the FATF’s heightened monitoring process,” the taskforce stated. “Cambodia should continue to work closely with APG to sustain its AML/CFT system advancements.” The Asia/Pacific Group on Money Laundering (APG) is an intergovernmental organisation.
A FATF team visited Cambodia in January 2023 to evaluate the country’s efforts to combat money laundering. During its visit, the delegation met with Prime Minister Hun Sen, Interior Minister Sar Kheng, and other officials.
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