OFAC ADVISORY: CAMBODIA BUSINESS ADVISORY ON HIGH-RISK INVESTMENTS AND INTERACTIONS

On 10 November, OFAC issued this Advisory, saying that its purpose is to caution US businesses currently operating in or considering operating in Cambodia to be mindful of interactions with entities and sectors potentially involved in human rights abuses, criminal activities, and corrupt business practices.  Saying that corruption is endemic and that there a wide range of risks and risk sectors, it identifies 2 areas of primary concern –

  • Illicit finance activities in Cambodia and related risks for the financial, real estate, casino, and infrastructure sectors; and
  • Involvement with Cambodian entities involved in trafficking in persons, wildlife, and narcotics trafficking in Cambodia and related risks for the manufacturing and timber sectors

Any modest contributions for my time and ongoing expenses are welcomed!  I have a page where you can do so, and where one-off contributions start as low as $3, at https://www.buymea3coffee.com/KoIvM842y

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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