Cambodia Boosts AML/CFT Efforts with Improved Compliance Rating

Phnom Penh - In a notable achievement, Cambodia has made substantial progress in addressing technical compliance deficiencies identified in its Mutual Evaluation, according to the latest reports.

Improved AML/CFT Framework

The country has managed to upgrade Recommendation 7 from Partially Compliant to Largely Compliant, marking a significant improvement in its anti-money laundering and combating the financing of terrorism (AML/CFT) efforts. This upgraded assessment demonstrates Cambodia’s commitment to strengthening its AML/CFT framework.

Notable Progress

• 2 Recommendations have been rated as fully Compliant
• 30 Recommendations have been deemed Largely Compliant

While this progress is commendable, six Recommendations still remain in the Partially Compliant category, indicating areas where further improvement is needed.

Ongoing Efforts

Despite these remaining challenges, Cambodia’s overall progress has been hailed as a significant step forward in its efforts to combat financial crimes and meet international standards. The country continues to work towards strengthening its AML/CFT framework, demonstrating its commitment to combating money laundering and terrorist financing.