Cambodia hopes to get off FATF grey list in early 2023

The FATF will visit in January.
The FATF will visit in January.

The country was added to the Financial Action Task Force (FATF) grey list of untrustworthy jurisdictions in 2020.

Cambodia.- Authorities in Cambodia are hoping to get the country off the Financial Action Task Force (FATF) grey list of untrustworthy jurisdictions next year. The country was added to the list in 2020.

Speaking at the 5th meeting of the National Coordinating Committee against money laundering and terrorist financing, Cambodia’s minister of the interior, Sar Kheng, said removing the country from FATF’s Grey List was a crucial economic and political task. She expressed hope that this would happen after the FATF visit in early 2023. 

The FATF will assess Cambodia’s anti-money laundering efforts after the country submits its 10th round progress report to the international watchdog. Kheng noted that Cambodia had submitted its report ahead of schedule and had made significant progress since the 9th round report.

Kheng said Cambodia had fully implemented all remaining FATF action plans and will ask the FATF to consider its case in January, calling the visit a “golden opportunity for Cambodia to emerge from the grey list.”

In recent months, Cambodia has increased controls over illegal casinos. The government urged authorities to shut illegal gambling in cafes and shops and it also published a series of new guidelines for gambling businesses.

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