Prompting thousands of VIP gamblers to gamble on neighborhoods and Cambodia has been one of the beneficiaries.

One of the biggest challenges for Cambodian casinos is monitoring money laundering activities because of the lack of scrutiny of financial transactions, which is likely to be abused by criminals for money laundering purposes. Cambodia’s financial information department (CAFIU) was established in 2008, but has not investigated any financial institutions since then because the department does not have the manpower and resources to conduct a full-scale investigation.

Financial Action Task Force (FATF), a global anti-money laundering and anti-terrorism financing international organization, decided to suspend Cambodia’s surveillance activities from February 2015. In Cambodia, there is no proper enforcement of money laundering policies, so financial institutions and casinos can be exploited by criminal gangs and criminals to conduct money laundering activities.

The CAFIU must investigate approximately 37 microfinance institutions, 38 banks and casinos with only 10 employees. Staffing shortages mean that organizations cannot conduct detailed investigations into any organization, and so far, they have never emphasized any suspicious transactions. 토토사이트

Laurien Feeling, director of UK-based Global Betting and Gaming Consultants, said in a statement: “Given that the vast majority of Cambodian casino visitors are foreigners, strict access to questionable deals is even more important. In any market, it is essential that casinos know their customers and prevent gaming floors from being used to launder criminal proceeds.”

Casinos around the world are targeted by criminal gangs, and one of their main rackets is based on money laundering. There is a lack of scrutiny of money laundering activities in Cambodian casinos and it is becoming a playground for criminals whose authorities want to do money laundering transactions.

Son Chai, vice chairman of the National Assembly’s financial audit committee and an opposition lawmaker, has recorded that Cambodia is a haven for money launderers and loses about $300 million a year due to these criminal acts. Tsai took issue with the current government’s statement that it was not willing to take action to address and arrest money laundering, and called for the issue to be resolved as soon as possible.

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