U.S. businesses engaged in commercial activity in Cambodia or planning to operate in the country must stay vigilant for signs of corruption and illicit finance, federal officials advised. Widespread graft; lax oversight of the financial, gaming, construction and real estate sectors; human rights abuses and activities linked to North Korea's development of weapons of mass destruction make the Southeast Asian nation particularly vulnerable to financial crime, Treasury, State and Commerce officials warned in a 13-page advisory Wednesday. Regulators and compliance officers for the nation's booming banking sector, which has grown 50 percent over the past five years and now counts...
Three U.S. agencies, including the State, Treasury and Commerce Departments issued an advisory regarding the growing risks associated with certain business dealings in Cambodia.
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