National Bank of Cambodia Governor Chea Serey has pushed back against international criticism that her country is a hub for online financial scams. Serey stated that these scams are a global issue, not specific to Cambodia, and require international cooperation to combat effectively. She emphasized that scam operations are opaque and interconnected across borders, with victims and perpetrators found worldwide.
During high-level panels at the ASEAN Business and Investment Summit and the Bloomberg Business Summit, Serey highlighted Cambodia's commitment to transparency and its efforts to strengthen anti-money laundering and counter-terrorism financing (AML/CFT) frameworks. She acknowledged the damage such reports can do to Cambodia's image but stressed that the country offers a favorable investment climate. Serey also pointed to the broader challenge of digital literacy in the face of advancing artificial intelligence.
Recent actions include the revocation of the banking license for Huione Pay, the banking arm of Huione Group, which was accused of processing billions in illicit transactions and serving as a conduit for cyber scam operations. The central bank spokesperson cited noncompliance with existing regulations as the reason for the license withdrawal.
