Ulaanbaatar
APG extends Mongolia’s anti-money laundering plan
Economy
Ulaanbaatar /MONTSAME/ The Asia/Pacific Group on Money Laundering (APG) annual meeting was held in Kathmandu, Nepal on July 21-27.
A working group consisting of representatives from the Bank of Mongolia, Financial Regulatory Commission, Ministry of Finance, Ministry of Justice and Home Affairs, General Prosecutor’s Office, Independent Authority Against Corruption and National Police Agency led by State Secretary of the Ministry of Justice and Home Affairs attended the meeting. The working group reported implementation of the recommendations provided under the Mutual Evaluation on Mongolia’s anti-money laundering/counter terrorism financing (AML/CFT) system in 2017.
Considering the outcomes and further activity directions of Mongolia, it was decided to prolong the decision making period whether to place Mongolia on the Financial Action Task Force’s (FATF) grey list by another 12 months and see the results of ongoing activities.
A working group consisting of representatives from the Bank of Mongolia, Financial Regulatory Commission, Ministry of Finance, Ministry of Justice and Home Affairs, General Prosecutor’s Office, Independent Authority Against Corruption and National Police Agency led by State Secretary of the Ministry of Justice and Home Affairs attended the meeting. The working group reported implementation of the recommendations provided under the Mutual Evaluation on Mongolia’s anti-money laundering/counter terrorism financing (AML/CFT) system in 2017.
Considering the outcomes and further activity directions of Mongolia, it was decided to prolong the decision making period whether to place Mongolia on the Financial Action Task Force’s (FATF) grey list by another 12 months and see the results of ongoing activities.
B.Misheel
