Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Regulations in Cambodia
Article 24: Record Format
Banks and financial institutions in Cambodia are required to maintain relevant documents securely, in a retrievable format, with accurate and timely information. This includes:
- Maintaining original or copied documents on microfilm or electronic form
- Ensuring the formats are secure, retrievable, and provided accurately and timely
Articles 25-27: Risk Management
To comply with AML/CFT regulations, banks and financial institutions must implement effective internal control systems, including:
- Conducting regular risk assessments to identify potential money laundering or terrorist financing risks
- Establishing policies and procedures to prevent, detect, and report suspicious transactions by the Board of Directors
Articles 28-31: Suspicious Transaction Reporting
Banks and financial institutions must have a system in place for reporting suspicious transactions to the Financial Intelligence Unit (FIU), including:
- Training staff to recognize and report suspicious transactions
- Maintaining confidentiality of information related to suspicious transaction reports
- Allowing only authorized personnel to access this information
Article 32: Confidentiality
Banks and financial institutions must ensure that all information related to suspicious transaction reports remains confidential. Only authorized personnel may access this information.
Articles 33-34: Financing of Terrorism
To prevent and report terrorist financing activities, banks and financial institutions in Cambodia must:
- Have procedures in place to identify and report suspected terrorist financing activities
- Maintain a database of known terrorists and update it regularly
- Train staff to recognize and report suspicious transactions related to terrorism