Cambodia's central bank (national monetary authority) suspends Prince Bank's new business operations—assets under Morisonkak MKA

Cambodia's central bank (national monetary authority) suspends Prince Bank's new business operations—assets under Morisonkak MKA

According to Cambodia’s central bank, Prince Bank entered liquidation on Jan. 9 with all banking activities halted, following the arrest of key executives earlier in the week over alleged transnational online fraud.

Fact Check
The statement is assessed as likely true with high confidence. The evidence from multiple authoritative sources consistently supports all key claims within the statement.First, the involvement of Cambodia's central bank, the National Bank of Cambodia (NBC), in taking action against Prince Bank is confirmed by numerous high-authority sources, including TRT World, Kiripost, the BBC, and the Phnom Penh Post.Second, the "suspension of new business operations" is also widely corroborated. Several sources go further, stating the bank was ordered to "cease operations" and begin "liquidation," a more severe action that inherently includes the suspension of new business. Therefore, this part of the statement is accurate.Finally, the specific claim that Prince Bank's assets are "under Morisonkak MKA" is explicitly supported by highly credible sources. TRT World and Kiripost identify Morisonkak MKA as the official liquidator, and a post from the Phnom Penh Post states it was authorized to manage the bank's assets. While some sources like the BBC do not mention Morisonkak MKA, this is an omission of detail rather than a contradiction. The direct confirmation from multiple international and local news outlets provides strong evidence for this claim.There are no conflicting reports among the credible sources provided. The overall consistency of information across high-authority sources makes the statement highly probable.
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Summary

Cambodia’s central bank announced on Jan. 9 that Prince Bank has been placed under liquidation, requiring a halt to all banking activities, including deposits and loans. Auditor Morison Kak MKA was appointed to manage operations and asset disposal. The decision followed the Jan. 6 arrest of senior executives, who were repatriated to China over alleged transnational online fraud.

Terms & Concepts
  • Liquidation: A regulatory process in which a bank is wound down, operations cease, and assets are managed or sold to settle obligations.
  • Morison Kak MKA: An audit and advisory firm appointed by regulators to oversee Prince Bank’s liquidation, operations management, and asset disposal.