The banking license of Huiong Payment has been revoked according to Radio Free Asia (RFA), as the National Bank of Cambodia (Cambodian Central Bank) has officially revoked the banking license of Huiong Payment.
Huiong Payment is affiliated with the Cambodian Huiong Group, which is accused of operating the largest illegal online trading platform in the world, with an involved amount of up to 24 billion US dollars.
A spokesperson for the Cambodian Central Bank confirmed via email to RFA on March 6 that Huiong Payment's banking license was revoked due to its failure to comply with current regulations and requirements of the regulatory authorities.
However, the central bank did not disclose the specific time of the revocation, nor did it specify the legal consequences the company would face if it continues to operate. Huiong Group has not yet responded to the revocation of the license.
