Financial Crime World

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