PHNOM PENH, March 14 (Xinhua) -- Cambodia on Thursday launched a 5-year national strategy for combating money laundering and financing of terrorism (2019-2023), said a National Bank of Cambodia (NBC) statement.

NBC's governor Chea Chanto, chairman of the National Coordinating Committee on Anti-Money Laundering and Financing of Terrorism (NCC), and Clive Scott, senior advisor of the International Monetary Fund (IMF), attended the launching ceremony here, with around 400 participants.

The strategy aimed to serve as a comprehensive long-term roadmap to Cambodia, which enables all relevant ministries, institutions and other stakeholders to understand well their respective roles and responsibilities in contributing to strengthening the effectiveness of combating money laundering and financing terrorism in the country.

"The National Strategy 2019-2023 aims to enable banking institutions and designated non-financial businesses and professions to deny the use to money laundering and detecting proceeds of crime and assets that are related to financing of terrorism," the statement said.

"It will ensure that law enforcement agencies work effectively together to investigate, prosecute, sanction and confiscate the proceeds and instruments of predicate and money laundering and terrorism financing offences," it said.

At the event, Chea Chanto highlighted ten key strategic objectives, specific prioritized action items and timelines that relevant ministries and agencies must work jointly with private sector to ensure effectiveness of anti-money laundering and combating financing of terrorism system in Cambodia, said the statement.