Discussion held on anti-money laundering and combating terrorism financing

Politics
e.altanzul@montsame.gov.mn
2018-10-24 16:26:43

Ulaanbaatar /MONTSAME/ The Parliamentary Standing Committee on Economy organized a discussion themed ‘Environment and Current Efforts to Combating Terrorism Financing and Money Laundering’ on October 24 in State House.


Representatives from International financial organizations, corresponding government organizations and private organizations such as banks, insurances, non-bank financial institutions and real estate agents took part in the discussion which aims to give support to Mongolia for ensuring requirements of the Asia/Pacific Group on Money Laundering, 

 

Opening the discussion, MP and Chair of the Standing Committee D.Damba-Ochir said that Mongolia has been implementing specific works in direction of improving environment for anti-Money laundering and combating the terrorism financing. In 2018, the Parliament approved the amendments to the Law on Combating Money Laundering and Financing of Terrorism following the recommendations of the Asia/Pacific Group. We should avoid not to be included on Financial Action Task Force (FATF) grey-list, so that economic and investment situation would not get worse. So, today we gathered here to discuss the realized works and future solutions.

 

During the discussion, the corresponding officials of the Ministry of Finance, the Ministry of Justice and Home Affairs, the Bank of Mongolia and the Financial Regulatory Commission of Mongolia delivered speeches on measures being taken towards anti-money laundering and combating financing of terrorism. 

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