Ulaanbaatar
Mongolia no longer subject to FATF’s increased monitoring process
Society
Ulaanbaatar/MONTSAME/. The FATF President Dr. Marcus Pleyer
announced that Mongolia is no longer subject to the FATF’s increased monitoring
process.
During its virtual plenary meeting on October 23, the FATF congratulated
Iceland and Mongolia for the significant progress they have made in addressing
the strategic deficiencies in their regimes to counter money laundering, terrorist financing and proliferation financing, identified earlier by the FATF and included
in their respective action plans. The countries are now no longer subject to
the FATF’s increased monitoring process. This comes after both countries
received on-site visits despite the COVID-19 crisis. Mongolia will work with
the APG of which it is a member, to continue to strengthen their AML/CFT
regimes.
The meeting, chaired by the FATF President Dr. Marcus
Pleyer, brought together delegates from over 130 countries and international
organizations.
