Radio Free Asia on 22nd February reported that Cambodia was put on a watch list by FATF after it found “significant deficiencies” that left the country vulnerable to flows of hidden illegal money.  Cambodia has a never prosecuted a money laundering case and its judicial system had “high levels of corruption”, FATF said.  NGO activists who monitor corruption in Cambodia said the reinstatement of Cambodia on the grey list suggested backsliding since 2015 and suggested that China’s huge flow of investment in the country’s casinos, real estate and banks and stock exchanges include a lot of laundered cash.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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