Background
On March 5, 2026, the Trust Regulator (TR) organized a workshop focused on the Prakas regarding disciplinary sanctions for trust sector reporting entities that do not comply with the Law on Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). The event was presided over by H.E. SOK Dara, Director General of the Trust Regulator, and held at the Business Development Center.
Scope of Application
The workshop targeted trustee companies, individual trustees, and trust operators, all of whom are mandatory reporting entities under the trust sector’s AML/CFT regulatory framework. These entities have specific obligations related to customer due diligence, record retention, and anti-money laundering programs.
Key Provisions or Decisions
The Prakas discussed during the workshop establishes disciplinary sanctions against reporting entities in the trust sector that fail to comply with AML/CFT laws. It outlines the responsibilities of these entities to implement customer due diligence, maintain records, and operate programs to prevent money laundering and terrorist financing. The measures align with recommendations from the Financial Action Task Force (FATF).
Implications for Investors, Businesses, or Compliance
Trust sector reporting entities must strengthen compliance programs, including customer identification and risk management processes, to avoid disciplinary actions. The workshop awareness-raising supports improved adherence to AML/CFT obligations, thereby reducing financial crime risks and ensuring alignment with international standards.
Official Source
Trust Regulator Facebook post, March 5, 2026: https://www.facebook.com/trustregulatorcambodia/posts/pfbid0dQKgVroRMGZkqMxuMMBLCHryTAFhpRVWN2SWFYHyScKV9wPrTJESdNhzpauBsarVl
