Banking Academy deputy director cites supervision failures; suggests sector restructuring did not have desired impact.
Committee headed by deputy prime minister charged with developing new policies.
New rule relaxes KYC requirements for banking service provision through agents.
Cambodia ranks 6th globally for susceptibility to money laundering, terrorist financing.
Applications for retail and institutional client accounts require central bank approval.
Authority says some KYC/AML measures ‘disproportionate’; looking at KYC utilities to ease regulatory burden.
Influential think-tank suggests some regulations could be eased to support financial inclusion.
Exemptions apply to licensed trustees appointed under a will, power of attorney, or to act for incapacitated clients.
Philippines and Lebanon the only countries which still have such laws in place.
Forged documents used by fraudsters who promise to help borrowers repay loans early.