Cambodia's anti-money laundering is helpless

[geovalin]

Daniel Pye

Cambodia's anti-money laundering agency is unable to investigate or penalise financial institutions that break the law, leaving the country open to exploitation by organised crime, according to a senior official in the unit.

The Financial Action Task Force (FATF) – the top international anti-money laundering and counterterrorism financing body – ceased its monitoring of Cambodia in February, even though the Financial Intelligence Unit (CAFIU), the state agency tasked with investigating and prosecuting financial crimes, was so under-staffed and under-resourced it had not investigated a single financial institution since its founding in 2008.

In early 2014, Cambodia was downgraded to FATF’s “dark-grey list” for lacking an asset-freezing instrument or a currency declaration system. The downgrade left the Kingdom just one step away from being blacklisted as a high-risk jurisdiction.

read more: http://www.phnompenhpost.com/national/money-launderers-dream

[connda]

As it is world-wide.

Just look up "HSBC Judge Approves $1.9B Drug-Money Laundering Accord". That will get you to the Bloomberg article.

It's endemic, from the top of the down. Except if you are part of the elite, you'll never see the inside of a jail cell, well, unless you choose to attempt to screw over Iceland.

[tajtom]

I am available at a fee

They are not consistent coz there most uneducated race in Asia. Tey are very very easily paid off and just plain lazy and happy to smilke eat and shit