IMF flags concerns about weaknesses in Cambodia casino licensing
The IMF’s assessment raises concerns over money laundering, scam proceeds and coordination between regulatory agencies.
Cambodia.- The International Monetary Fund (IMF) has urged Cambodia to strengthen its casino licensing rules, warning that weaknesses in ownership and source-of-funds checks could leave gambling businesses exposed to criminal control. The recommendation forms part of the IMF’s 2026 Article IV assessment of Cambodia, which identified financial-integrity risks linked to scam activities and called for stronger cooperation between regulators and law enforcement agencies. The report was published on September 28.
The IMF said Cambodia’s framework does not adequately establish whether the people ultimately controlling casinos are suitable to hold those positions or whether the money used to establish or acquire gambling businesses comes from legitimate sources. It said authorities should examine the business connections of individuals and companies involved in licence applications when assessing ownership and funding. Additional checks could be required where applicants have links to high-risk businesses or politically exposed persons, with information shared between relevant regulators.
Under the Law on the Management of Commercial Gambling, shareholders holding at least 10 per cent and senior managers must demonstrate a good reputation, honesty and integrity. However, the IMF said the Commercial Gambling Management Commission of Cambodia (CGMC) generally relies on criminal-record certificates when conducting these checks. It’s recommended extending fit-and-proper assessments to beneficial owners and directors and suggests that the CGMC verify the lawful origin of funds before granting casino licences.
The IMF also stressed the need for licensing and supervisory authorities to share relevant information. It said cooperation across agencies would help regulators identify ownership or business links that may not be apparent during an individual licensing review and allow concerns to be addressed after a licence has been granted.
Most existing casino licences are expected to come up for renewal around 2027. The IMF said this creates an opportunity for regulators to reassess operators under strengthened ownership and integrity requirements.
The recommendations come as Cambodia continues a nationwide campaign against online scam operations, including activities allegedly conducted from casino premises. Authorities said in September that they had revoked 18 casino licences linked to online scams and suspended nine more pending investigations. The campaign has involved cooperation between the CCOS, CGMC, police, prosecutors, courts and the Cambodia Financial Intelligence Unit.
