National Bank of Cambodia Announces Liquidation of Three More Banks

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National Bank of Cambodia Announces Liquidation of Three More Banks
National Bank of Cambodia Announces Liquidation of Three More Banks.

The National Bank of Cambodia (NBC) has announced that three banks – CCU Commercial Bank, Heng Feng Bank and HH Bank – had their licences revoked and were placed into liquidation on August 1, 2026, with two firms appointed to oversee the liquidation process. These three banks were previously placed on the U.S. government's sanctions list for alleged involvement in transnational criminal networks.

In a notification dated August 1, 2026, the NBC announced the liquidation of CCU Commercial Bank Plc., Heng Feng (Cambodia) Bank Plc., and HH Bank (Cambodia) Plc., with REACHS & Partners appointed as the liquidator for CCU Commercial Bank, and Baker Tilly Cambodia appointed as the liquidator for Heng Feng Bank and HH Bank.

The NBC has called on depositors at these three banks to prepare documents to claim their funds, which will be distributed according to the order of priority as determined by the Law on Banking and Financial Institutions. Customers should preserve their account statements, deposit certificates, transfer records, identity documents and all correspondence with the banks. They should follow only official instructions issued by the NBC or the formally appointed liquidators and should be cautious of anyone offering to recover deposits in exchange for an unofficial payment.

The NBC notification also clarifies that borrowers at these three banks must continue to fulfill their existing obligations. 

For further inquiries related to the liquidation process, customers and relevant parties are asked to directly contact the liquidators at the addresses and contact numbers below:

  1. Regarding the liquidation of CCU Commercial Bank:
    • REACHS & Partners – House No. 2223M, Street No. 1970, Phnom Penh Thmey Village, Sangkat Phnom Penh Thmey, Khan Sen Sok, Phnom Penh. 
    • Telephone: 023 230 333 / 098 351 086 or Email: info@reachspro.com 
  2. Regarding the liquidation of Heng Feng Bank and HH Bank:
    • Baker Tilly (Cambodia) Co., Ltd. – House No. B3-071 and B3-072, Sangkat Tonle Bassac, Khan Chamkarmon, Phnom Penh (Borey Elysee, Koh Pich City). 
    • Telephone: 023 987 100 or Email: info@bakertilly.com.kh

The liquidation of these three banks follows the liquidation of Prince Bank in January 2026, and Panda Bank in February 2026, and months of growing pressure from U.S. sanctions that date back to 2025.

  • On September 8, 2025, the United States Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned HH Bank under an executive order targeting malicious cyber-enabled activity. The U.S. Treasury alleged that the bank’s majority owners, Chen Al Len and Su Liangsheng, were connected to businesses supporting cyber-scam operations in Cambodia.
  • Heng Feng Bank was sanctioned by OFAC on April 23, 2026. The U.S. Treasury alleged that Heng Feng (Cambodia) Bank was controlled by Sai Aung Linn, who had served as a shareholder, director and former chairman of the bank, as well as a member of its board risk and audit committees. American authorities linked Sai Aung Linn and associated businesses to casino and property operations in Sihanoukville that were allegedly connected to money laundering, human trafficking and cyber-scam activity.
  • CCU Commercial Bank and its majority owner, Chen Bo, were sanctioned by OFAC on June 23, 2026, as part of an expanded operation targeting the Prince Group network. The U.S. Treasury alleged that Chen Bo was a director of at least six Prince Group companies previously designated by OFAC. American authorities describe Prince Group as a transnational criminal organisation involved in cyber-enabled fraud, money laundering and scam-centre operations.

The latest liquidations appear to signal a wider clean-up and consolidation of Cambodia’s banking sector, as the NBC moves against institutions facing financial weakness, governance concerns and international sanctions.