Past Event Details

OSAC - Money Laundering

DATE : February-21-2013
TIME : 08:45:00 to 10:15:00

We have learned the international community is stepping up enforcement efforts on the laws prohibiting money laundering, and thus putting pressure on developing countries like Cambodia, Vietnam, Thailand and Lao.  The Drug Enforcement Administration (DEA) officer in Bangkok has agreed to come to Phnom Penh to give a briefing at the next Overseas Security Advisory Council (OSAC) meeting on 21st February 2013.  The goal is to explain to members many of the “red flags” authorities are watching, with the purpose of helping you run a clean business and avoiding investigations.  Our speaker will not be an expert in specific Cambodian laws, he will be giving us the view of an international enforcement officer.

 We are pleased to have Ambassador William Todd agree to open this meeting.

 We met with an international consultant who provided additional insights.  He pointed out there are many companies that are required to file the declaration of cash transaction, besides the banks.  These include many companies like jewelry stores, pawn shops, and car dealers, but also others handling investor’s money, like investment funds and lawyers.  The law in most of the countries in Southeast Asia prohibits money laundering, but the enforcement has been light.  We will invite him to our session.

 Please join us:

 Date:                     February 21st (Thursday)

 Time:                     8:45 – 10:15 a.m.

 Place:                    US Embassy

 Please arrive a few minutes early to clear the normal security procedures at the embassy.  Bring your passport for identification.

 Please RSVP to Navy at  by noon on 19th of February 2013.  No walk-ups will be permitted, as names need to be cleared ahead of time by the embassy.


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