• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Casinos still money-laundering risk for Cambodia: watchdog

Nov 04, 2019 Newsdesk Latest News, Rest of Asia, Top of the deck  


Casinos still money-laundering risk for Cambodia: watchdog

Cambodia’s casino sector still represents a risk for the country in terms of money-laundering prevention and combatting the financing of terrorism. That is according to the Financial Action Task Force (FATF), a global financial watchdog based in Paris, France.

The FATF said in an announcement last month that Cambodia remained on the watchdog’s list of jurisdictions with “strategic anti money laundering [AML] and combatting the financing of terrorism [CFT] deficiencies”. The body however noted that the nation – since a meeting in February with FATF officials – had “taken steps towards improving its AML/CFT regime, including by initiating off-site and on-site supervision of the real estate and casino sectors.”

The latest document by FATF indicated that Cambodia “should continue to work on implementing its action plan to address its strategic deficiencies”, including those linked to the country’s casino industry.

A 10-point ‘must do’ list for authorities in Cambodia mentioned by FATF included “implementing risk-based supervision for real estate and casinos”, and “conducting sector-specific outreach to casinos”. Other measures featured in the list included improving training of law enforcement authorities, strengthening the country’s legal framework against money laundering and the financing of terrorism, and enhancing regulatory analysis of suspicious transaction reports.

Local media outlet Khmer Times reported earlier this year that, by April, authorities in Cambodia had granted a total of 163 casino licences country-wide. The majority – a total of 91 of licences – were for casinos in the province of Preah Sihanouk, where the seaside town of Sihanoukville is located.

Sihanoukville has been an expanding gaming hub in Cambodia. While much media attention has been paid recently to the issue of casino streaming services based in that location – allegedly aimed at Chinese customers offshore – Sihanoukville also boasts a number of bricks and mortar casino projects; many of those have been linked in stock market filings and media reports with Chinese investment.

Reports of imminent casino regulation in Cambodia have been circulating for several years. In June 2014, the Phnom Penh Post newspaper had reported that a draft of what it termed a “national casino law” was to have been finalised that year.

Currently, licences and the terms of such licences are issued by the authorities on a case by case basis.

A study by the United Nations Office on Drugs and Crime published in July stated that weak law enforcement and lax regulation within the Southeast Asia casino sector offered crime syndicates a ready channel for laundering illicit earnings, including those from drug trafficking.


  • tweet
Related articles
  • China restates action on overseas-bet fugitives
    China restates action on overseas-bet...

    Aug 17, 2022  

  • Casino op NagaCorp repurchases fraction 2024 senior notes
    Casino op NagaCorp repurchases fraction...

    Aug 15, 2022  

More news
  • Macau resuming tourism promotion on Chinese mainland
    Macau resuming tourism promotion on...

    Aug 19, 2022  

  • SOFTSWISS Game Aggregator deal on Vibra Gaming content
    SOFTSWISS Game Aggregator deal on Vibra...

    Aug 19, 2022  


Latest News

Macau resuming tourism promotion on Chinese mainland

Macau resuming tourism promotion on Chinese mainland

Aug 19, 2022  

Macao Government Tourism Office (MGTO) said on Friday that it is resuming promotion of Macau as a travel destination, targeting mainland Chinese consumers. Its new campaign starts this month and runs...
Read More
SOFTSWISS Game Aggregator deal on Vibra Gaming content

SOFTSWISS Game Aggregator deal on Vibra Gaming content

Aug 19, 2022  

Ambrose So, CEO of Macau op SJM cuts stake for US$11mln

Ambrose So, CEO of Macau op SJM cuts stake for US$11mln

Aug 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

“The key focus is digging ourselves, together with the other five operators, out of hole that Macau has been in for the last three years”

Lawrence Ho Yau Lung

Chairman of casino operator Melco Resorts



Most Popular

  • China restates action on overseas-bet fugitivesChina restates action on overseas-bet fugitives August 17, 2022
  • David Chow exits board of casino services biz Macau LegendDavid Chow exits board of casino services biz Macau Legend August 17, 2022
  • Singapore’s Gambling Regulatory Authority inauguratedSingapore’s Gambling Regulatory Authority inaugurated August 16, 2022
  • Galaxy Ent 2Q EBITDA dips 41pct sequentially, 1H lossGalaxy Ent 2Q EBITDA dips 41pct sequentially, 1H loss August 18, 2022
  • Studio City Phase 2 opening 2Q23, in stages: Lawrence HoStudio City Phase 2 opening 2Q23, in stages: Lawrence Ho August 19, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us