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Cambodia passes draft bills to curb money laundering, weapon financing

The National Assembly of Cambodia on June 4 adopted two draft laws on anti-money laundering (AML) and counter-terrorist financing (CFT) and on combating the financing of weapons of mass destruction (WMD) proliferation.
Cambodia passes draft bills to curb money laundering, weapon financing ảnh 1Cambodian Interior Minister Sar Kheng (Photo: khmertimeskh.com)

Phnom Penh (VNA) - The National Assembly of Cambodiaon June 4 adopted two draft laws on anti-money laundering (AML) andcounter-terrorist financing (CFT) and on combating the financing of weapons ofmass destruction (WMD) proliferation.

Speaking at the assembly's session, Cambodian InteriorMinister Sar Kheng said the country became a member of the Asia Pacific Group(APG) on Money Laundering in 2004 and as its member, the kingdom is required tofollow international standards on combating money laundering, terroristfinancing and WMD proliferation financing.

According to the official, the draft law on AML and CFT isdesigned to combat money laundering and terrorist financing by identifyingmeasures to control, prevent, crack down on and eliminate them. It alsostipulates measures to freeze, restrain and seize assets in criminalproceedings, and to punish perpetrators.

Meanwhile, the draft bill on combating the financing of WMDproliferation was aimed at controlling on providing funds and services, such asfinancing, related to the export and trans-shipment of items that wouldcontribute to the proliferation of WMD, he added.

The two draft laws will need to be finally reviewed by theSenate before being submitted to Cambodian King Norodom Sihamoni forpromulgation./.
VNA
#National Assembly of Cambodia#Cambodian Interior Minister#Sar Kheng#Asia Pacific Group#Money Laundering#weapons of mass destruction proliferation#Norodom Sihamoni#Vietnam News Agency#vietnamplus
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